Arsenal legends Sol Campbell and Robert Pires have urged the club the sit down and revive talks with Aaron Ramsey amid interest from Liverpool.
Ramsey, 27, who has made 337 appearances for Arsenal, is out of contract at the end of the 2018/19 campaign and could leave on a free transfer next summer.
The Wales midfielder was reportedly demanding around £200,000-a-week which Arsenal were not prepared to meet and the north London club made the decision to withdraw from negotiations.
Reports suggest Liverpool failed with a move to sign Ramsey in the summer and are lining up another bid ahead of in the January transfer window.
Asked about Ramsey, Pires told Standard Sport: ‘I don’t know what’s happening at the end of the season. Maybe he will extend, maybe not.
‘He’s a great player, he’s been at Arsenal for a long time. He scores a lot of goals and is important to the squad.
‘Aaron needs to talk with the board and find a good solution for him and for Arsenal.’
Former Arsenal defender Campbell believes Unai Emery could live to regret allowing Ramsey to leave.
‘It is worrying. Rambo’s a fantastic player, a great guy. It’s a shame but it’s a recurring situation at Arsenal,’ he said.
‘Ozil took a long time, Sanchez as well and then he went.
‘Ramsey’s a top player, losing him for free would be a mistake.’
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