The 27-year-old has struggled to dislodge Keiran Gibbs in the left full-back position since arriving for £8.5million last January, despite a promising start.
The Spaniard put in some impressive performances upon his arrival, and scored a crucial winning goal against Swansea last season that set Arsenal on a run that saw them pip rivals Tottenham to a fourth-placed finish.
However, Wenger has opted for Gibbs as first choice left back this season, and Monreal has already admitted he is finding it difficult to watch on from the bench.
It is thought he is keen to stay and fight for his first team place, while Arsenal also want to keep him on their books.
However, that has done little to put off three Spanish sides reportedly keen to lure the defender back to La Liga.
Valencia, Real Sociedad and Granada have all set their sights on Monreal, and could well test the Gunners’ resolve with January bids.
The Spanish trio hope to convince Monreal to return to his homeland as it will help him with his push to make Spain’s World Cup squad ahead of next summer’s tournament in Brazil.
[cat_link cat=”arsenal” type=”grid”]