Football.London, as quoted by talkSPORT, is reporting that the north London side are probably not going to be able to land the 23-year-old on a permanent deal after his loan switch from Real Madrid.
The playmaker has impressed since his move to The Emirates from Real Madrid on a season-long loan deal in the summer transfer window.
Ceballos was named as the man of the match as he notched up two assists during his first Premier League start for the north London side in the 2-1 win over Burnley last month.
According to the same story, Arsenal wanted an option-to-buy included in the loan deal, but Real Madrid refused to add one.
The article, however, says that Real Madrid’s stance about Ceballos could change should Zinedine Zidane leave the Spanish club in the summer.
Ceballos was unable to help Arsenal find a winner in their 2-2 draw with Tottenham Hotspur in the north London derby last weekend at The Emirates.
The Gunners will return to Premier League action after the international break when they take on Watford away from home on Sunday 15 September.
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