But by then the share price could break the £790million that Malcolm Glazer paid for Manchester United.
Ecclestone, worth about £2.2billion, revealed he would make an approach through his friend David Dein, the club's former vice-chairman.
The 76-year-old said: "David mentioned it. The directors at Arsenal don't want to sell and have signed a lock-out agreement for a year so we will have to wait and see what happens then.
"A lot can change in that time. I am still very interested. If I could buy Arsenal, I would, but I would want control."
Ecclestone denied he was interested in buying QPR. But Renault boss Flavio Briatore is in talks with the struggling club, who have debts of £20m.