The midfielder has played for Arsenal, Barcelona and Chelsea where he won trophies with all three. He is currently playing for French Ligue 1 club Monaco
City were also fined 30 million euros ($32.5 million) and are taking the matter to the Court of Arbitration for Sport (CAS)
Arsenal, which has slumped to 10th place, fired Unai Emery almost three weeks ago
Gunners sack Unai Emery as manager after worst run in decades; former Juve boss Allegri and Wolves's Nuno Espirito Santo favourites to take over
He made suggestions last season that he could leave Tottenham but a fresh five-year deal makes that unlikely given just how much compensation Real would have to pay
"There are associations, national teams, it could be also (in) Japan. From my 22 years at Arsenal, I have big experience on different levels. There are enquiries from all over the world."
Unai Emery has warned Arsenal's under-performing stars he won't be afraid to wield the axe as he prepares for the challenge of creating a new future for the troubled Premier League side
Ex-PSG boss favourite to replace Wenger at Arsenal after Arteta misses out
Arteta has been linked with succeeding Wenger
The Gunners boss will leave the club after almost 22 years at the helm when the final whistle blows at Huddersfield today
The kid, from Hampshire, came to the Emirates Stadium with a sign board that read: "Arsene, can I please have your tie?" Wenger saw the request and handed over his tie to the lad during his lap of honour
Wenger has been been linked to the general manager's job at PSG, who are expected to replace their manager Unai Emery
What does Arsenal manager Arsene Wenger's exit mean for football fans in the city?
The Frenchman will leave his position as Gunners manager at the end of the season after over 22 years in charge
The final home game of Arsenal boss Arsene Wenger will always remain special for young fan, Luca Iacurti, seven, who returned home with the gaffer's tie after Arsenal's 5-0 thumping of Burnley on Sunday
On a day dominated by tributes to the Frenchman, both teams formed a guard of honour for Wenger, 68, before kick-off to a chorus of "there's only one Arsene Wenger"
Arsene Wenger enjoyed a 5-0 thrashing of Burnley in his final home game in charge of Arsenal after 22 years as manager on a day dominated by tributes to the Frenchman
Arsene Wenger's final season after 22 years in charge is destined to end in disappointment after Thursday's Europa League semi-final exit to Atletico Madrid
Atletico striker's all-important goal in Europa League semi-final second leg means Arsenal manager will depart without a European trophy to his name
Manchester United boss Jose Mourinho hopes he gets the chance to face Arsene Wenger again after the outgoing Arsenal manager's final visit to Old Trafford as Gunners' boss ended in a 2-1 defeat on Sunday