Ex-Gunners boss Arsene Wenger thinks all hope is not lost and insists the situation can be resolved.
However, he has now broken his silence by making a claim on the contract issues involving Aaron Ramsey.
Ramsey has been a key player for Arsenal since joining the club from Cardiff City ten years ago as he's provided 60 goals and 60 assists in 340 appearances and has netted some important goals to help the Gunners win 3 FA Cup's in recent years. According to resources at ESPN FC, Manchester United and Chelsea are keen on signing the Welshman.
The pair have deals until the end of the season but the club, who are also in negotiations with David De Gea, Ashley Young and Juan Mata, are hopeful new terms will be agreed soon.
Wenger signed Ramsey from Cardiff City for £4.8 million in 2008 and the Wales global has gone on to make 242 Premier League appearances for Arsenal, as well as twice scoring the victor in the FA Cup Final.
Having pulled-out of a deal to re-sign Aaron Ramsey, at least for the time being, manager Unai Emery faces the challenge of signing his own midfield replacement in 2019 - be that in January or next summer.
Ramsey will be free to sign a pre-contract agreement with foreign clubs in January and has said in the past he's tempted by a move overseas but the midfielder will also have plenty of options if he decides to remain in England.
That means that, as things stand, the Wales worldwide would be able to leave on a free transfer in the summer.