Aubameyang has been banished from the first-team squad by Mikel Arteta after a disciplinary breach led to him being stripped of the captain's armband.
He said in his column on Sky Sports: "To be honest, I thought Mikel Arteta chopped his nose off to spite his face in regard to Aubameyang in the first place.
"Arsenal need to have a sit-down meeting with him. You have seen it before where players have just said, that's it. He got hung out to dry and he got binned.
"It could have all been sorted out behind the scenes. There's a lot to this story and probably it could have been handled better on both sides, but now, it needs to get sorted out.
"For me, Aubameyang, on his day, is still one of Arsenal's best players."
Barcelona and Juventus want to take Aubameyang on loan until the summer, with discussions ongoing regarding whether either deal would include an option or obligation for the striker to move permanently.
Both are keen to sign the 32 year-old on an initial loan, with Al-Nassr prepared to include a £7m obligation, and pay all of his £350,000-per-week wages. Either offer would be more financially favourable to Arsenal.