Odegaard has become a first-team regular under Mikel Arteta at The Emirates – a status not afforded to him by Madrid boss Zinedine Zidane.
Arteta has already made a request to the Arsenal board for the club to do all they can to retain Odegaard’s services.
Madrid are not looking to sell the midfielder but could be tempted into offloading him for the right price amid their current financial struggles.
Zidane has urged Odegaard to stay and fight for his place though, and Odegaard insists he still has ambitions of playing for the Los Blancos.
“Yes, as I have said many times when you sign there, the goal is always to play there. It is of course a big dream,’” Odegaard told TV2 recently, before adding: “But at the same time I am in a nice club and am very happy where I am now.
“So I am very happy with the situation as it is now.”
That could potentially open up the prospect of another loan deal if it suits all parties, which would likely appeal to Odegaard.
“I have felt at home since the first day. I am happy to be here and I feel great so I’m very pleased to be a part of the team,” he said of his time at Arsenal a fortnight ago.
Even if Arsenal wanted to make the move permanent, Madrid hold plenty of bargaining power with the star’s release clause set at £300million and his contract not due to expire until 2024.
Both clubs are set to sit down and discuss plans for next season, including Dani Ceballos’ future, as well as what to do next with Odegaard.
“I’ve said things before that I still stand for: stability and development are key words.”
[email protected] (Darren Wells)