The 30-year-old would be allowed to leave by Emery, but his current wages are hindering his chances of a move away.
Ozil’s £300,000-a-week salary, means it is difficult to move the player on, claims the Bleacher Report.
The former Real Madrid and German international has been linked to clubs in Italy, China and Turkey, but as of yet none are able to fashion a deal.
Turkey could end up being likely destination for a loan deal and Istanbul Basaksehir, who are top of the Super Lig, are interested.
Ozil has close ties with people at the club but nothing as yet has been agreed.
Fenerbahce and Besiktas are also interested but are unable to cover his wages, claims the Bleacher Report.
Ozil, who last January signed a new deal with Arsenal which runs until the summer of 2021, has struggled at times to adapt to the tactical approach from Emery.
He has played 13 of Arsenal’s 21 Premier League games this season, with a return of 3 goals and a single assist.
Although Ozil’s time on the field has been limited due to injuries, of which he is currently recovering from a back strain and a knee injury.
His last appearance for the Gunners came on Boxing Day, where he was substituted at half-time, as Arsenal were held to 1-1 draw with Brighton.
The Gunners’ next game is against Blackpool in the third round of the FA Cup and Emery confirmed Ozil is a doubt to play.
“This morning, he didn’t train,” Emery said about Ozil.
“I am only waiting [for him] to be OK to play.”
Following the increased speculation about Ozil’s future, his agent Dr. Erkut Sogut has tried to give some clarity on the matter.
“I would prefer not to speak publicly about Mesut’s situation, but given the recent speculation linking him with a move away from Arsenal, I do feel it is important to provide some clarity so we can end this and focus on football,” Sogut told Goal.
“Mesut signed a new contract last January because he saw his future at Arsenal and nothing has changed in his mind.
“He wants to stay for the duration of that contract and maybe even longer.
“Mesut is 100 per cent committed to Arsenal football club.
“He loves the club, shares its values and does not want to be anywhere else.
“He is proud to wear the shirt and honoured to represent Arsenal on and off the pitch.
“He takes his responsibilities – including being selected as one of the captains this season – very seriously and has a great relationship with his team-mates, the staff and fans.”