Bologna’s Mattias Svanberg is popular with Arsenal, Atalanta, AC Milan and Inter Milan.

The midfielder’s contract expires in 2023 and there was a firm belief at the club he had his heart set on signing an extension. That hasn’t happened so far and it is unlikely to take place anytime soon, as per local newspaper Il Resto del Carlino.

It’s claimed the Gunners and the other Serie A sides have had their eyes on the Sweden international for a year. Milan showed willingness to make an offer of around €15m a year ago, but Bologna weren’t in favour of letting their key player leave.

In the last transfer window, the best offer Bologna received was around €8m, which was clearly deemed insufficient. They also didn’t entertain any offers because they had no intention to deprive themselves of a player of Svanberg’s qualities.

Without a renewal, Bologna will be forced to let him leave, either in the winter market or next summer. The 22-year-old’s agent suggests a ‘wait-and-see tactic’, to see if there will be any interesting offers before the end of January.

Svanberg earns €500,000 a year and his employer want to raise that to €1m per season.

The report says ‘it is at least probable’ Arsenal and other suitors, should they decide to sign the Swede, will surely offer a better deal than the one proposed by Bologna for an extension. Therefore, the ‘choice to wait’ is from his representatives.

The Swede’s decision not to renew so far has put Bologna in an ‘unexpected situation’. It will also make them listen to any proposals they receive for him next month. As of today, Bologna’s hope is to collect €15-20m from his sale.

If there are no movements in January and Svanberg decides against signing a new deal, Bologna will then be forced to let him leave for a lower fee after this season.