Arsenal face a huge bill should they choose to pay out Mesut Ozil's contract.

The Mirror says Ozil is believed to be on the cusp of a move to Fenerbahce after the door was closed to a return to first team action at Arsenal.

It was initially thought that he would join the Super Lig side on loan for the rest of the season, with the Gunners picking up his £350,000-a-week wages, before his contract expires at the end of this campaign when he would make the move permanent.

However, Ozil may be free to make the move long-term this month as Arsenal are planning on terminating his contract if an agreement can be met.

Turkish reporter Yagiz Sabuncuoglu claims that the Germany international could receive more than £7m as part of the agreement.

One drawback for Ozil is that he is in line to receive a loyalty bonus if he sees out the duration of his contract, a waiver he would of course have to ditch by leaving this winter.

Negotiations are set to resume on Saturday in order to thrash out the deal to allow Ozil to leave north London.