Imanol has acknowledged reports in Spain linking the veteran Gunners defender with a move to San Sebastian.
Going into Sunday's win at Real Mallorca, Imanol was asked directly about La Real's interest in Monreal and refused to rule anything out.
He was quoted by AS: "The arrival of Monreal is what least worries me.
"At the moment I do not contemplate anything, but it is true that until the deadline closes anything can happen.
"Someone comes that we do not expect or someone leaves who we do not expect. We do not know what will happen."
Monreal is now well inside the final year of his Arsenal contract.
He stated, quoted by Football.london: "With Nacho the possibility is open. We are going to speak about that."
- updated August 26