The Mirror report that the left-back is one of the players that Mikel Arteta will be looking to move in order to overhaul the Gunners’ squad and also cut the side’s wage bill.
Sky Germany report that the defender himself is open to a return to the country where he was born and raised for ‘private reasons’, the main stumbling block to the deal is the 27-year-old’s wage.
It’s reported that even a loan move that would split the full-back’s salary between the two clubs would be hard for Schalke to sanction, with the Bundesliga side hit hard financially due to the pandemic.
Sky Germany report that Schalke have now set a maximum annual salary of €2.5m, but Kolasinac earns almost four times that with his €8m pay-packet from the Gunners.
With Kolasinac keen on a move back to Schalke, this transfer could be very possible if the German side can find out a way to overcome the financial difficulties of securing the deal.
Kolasinac has started 23 of his 32 appearances across all competitions this season, the Bosnia international will find minutes much more difficult to come by with Kieran Tierney back fit, as well as Cedric Soares and Bukayo Saka competing for the left-back spot.
The aggressive defender has made 104 appearances since joining the Gunners from Schalke on a free transfer in the summer of 2017, with the ace scoring five times and chipping in with 15 assists.