The left-back, 26, is behind Nacho Monreal in the pecking order at the Emirates Stadium and has lost his place in the England squad.
He was willing to run down his contract instead of pushing for a move, regardless of whether Arsene Wenger would listen to offers for him.
But he may look at a move in the future depending on the first-team action he gets when Arsenal start their Champions League campaign.
The ex-Wimbledon youth playerhas previously made it clear he would rather stay in Wenger’s squad and fight for his place instead of moving to a mid-ranking Premier League team – but regular football could now be tempting.
He will be able to formally speak to other clubs in 18 months and agree a pre-contract if he stays at the club.
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