ARSENAL will reportedly look to bring Serge Gnabry back to the Emirates this summer as the winger mulls over a Bayern Munich departure.
And the Gunners are also said to be prepared to wait until next year to secure his services on a free transfer with his contract at the Allianz Arena to expire in 2023.
Bayern icon and former Liverpool ace Markus Babbel urged the 26-year-old to shun a move away and commit his future to the Bavarian outfit in an interview with SunSport.
But the Germany international is believed to be considering his future having rejected a new deal.
A Premier League return has been mooted, with former employers Arsenal linked.
Liverpool, Chelsea and Manchester United are also all understood to be keeping tabs on the ex-West Brom loanee.
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Meanwhile Real Madrid are claimed to have identified the player as an alternative to Kylian Mbappe after the 23-year-old penned a new deal with Paris Saint-Germain.
But Real's interest hasn't stopped Arsenal from looking to secure Gnabry's services.
According to , Gnabry is open to a move back to North London - six years after he was sold to Werder Bremen for £5million.
But a potential transfer could prove difficult this summer due to the club failing to secure Champions League football.
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If a deal cannot be reached in the upcoming window, it has been said Arsenal will look to lure him back next year.
Falk tweeted: "Arsenal are interested in Serge Gnabry. Gnabry can also imagine a comeback with the Gunners.
"After missing the Champions League, this is financially unrealistic this summer.
"Next chance: 2023 when Gnabry is a free agent."
It is set to be a busy summer at the Emirates, with Manchester City striker Gabriel Jesus eyed up.
Meanwhile Leicester midfielder Youri Tielemans could be signed in a £25million transfer.
Arsenal have also been boosted by the news that centre-forward Eddie Nketiah is close to agreeing a long-term contract until 2027.