The German, who signed a new £350,000-a-week contract last February, has fallen out of favour with manager Unai Emery.
The huge contract he carries has made it hard for Arsenal to find interested parties.
However, The Telegraph says intermediaries are speaking with clubs in China and Italy to see who can afford the 30-year-old.
The report claims Arsenal are not tied with the representatives, however, they would be prepared to listen to offers for Ozil in order to lighten their wage bill.
Ozil has been linked with a move to Inter Milan in recent weeks.