The striking skipper is due to meet with the club's lawyers today after refusing to participate in the tour of America.
He still has 12 months to run on his current £90,000-a-week deal and had hoped to extend his stay at the club he joined from Lorient back in 2010.
Talks about a new deal were held with the club before the end of the season but quickly broke down over personal terms.
And the Frenchman was stunned when he was told Arsenal were only prepared to pay him £45,000-a-week over the following two years with the chance to top up his salary based on appearances.
But the Ligue 1 club's generous offer only applies if there is no transfer fee involved.