Ramsey is on course to become a free agent at the end of the summer, with months of negotiations so far failing to yield an agreement over a contract extension.
It means that the player, who has been linked with the likes of Barcelona, Chelsea and Manchester United at various points in recent months, can in theory start formally negotiating a pre-contract free transfer agreement with overseas suitors as of 1st January.
Despite his rapidly expiring contract, Ramsey still has an estimated market value of £40.5m (€45.5m) on Transfermarkt and so any club signing the Welshman for free would be conducting an excellent piece of shrewd business.
A number of press reports have emerged over the last few months claiming that Arsenal are 'confident' Ramsey will sign a new contract. The likelihood is that such reports have been passed to the media from someone inside the club to exert pressure. At the moment, however, that all appears to be empty hope.
Ramsey was hauled off early when Arsenal were beaten by Manchester City in their opening game of the season last month and had to make do with coming on as a second half substitute in the subsequent defeat to Chelsea.