Odegaard appears to have left the door open for a permanent change, not having had much playing time at the Bernabeu by manager Zinedine Zidane.
Speaking at a press conference while on international duty with Norway, the 22-year-old explained: “I haven’t thought about what’s going to happen this summer. The deal with Arsenal is until the end of the season.
“We’ll see what happens this summer. I have already said things that I always defend: stability and development are the key words. ”
The loan deal did not contain a call option, and Odegaard’s current deal with Real doesn’t expire until 2023, which means he’s likely to ask for hefty transfer fees, especially if his good form continues.
Arsenal reported a loss of £ 47.8million for the fiscal year earlier this month and they are unlikely to be able to spend big this summer.
However, Real have their own financial issues as well, reporting a gross total debt amount of € 901million in their latest accounts.
Reports from Spain have pointed to the need for Los Blancos to offload some of their big earnings in order to fund their summer affairs and Gareth Bale is making a mammoth £ 600,000 a week.
He is currently on loan at Tottenham, who subsidize half of his salary, but he recently revealed that he intends to return to Real at the end of the season to see the remaining year of his contract.
Speaking ahead of Wales’ World Cup qualifier against Belgium, Bale said: “The main reason I came to Spurs this year was to play football first and foremost, but coming in in the Euro, I wanted to be in good shape.
“The initial plan was only to do one season with Spurs, then after the Euros I will have another year in Madrid and my plan is to go back.
“That’s all I planned to be honest. ”
With Bale on the verge of returning, Real are more likely to be open to selling Odegaard in an effort to balance their books, which could push the asking price down, making a deal more affordable for Arsenal.