The Norwegian midfielder has been linked with a permanent move to Arsenal, and the London club are already weighing up replacements if they fail to sign the Real Madrid midfielder on a permanent deal.
According to reports, the Premier League side is looking to sign the Borussia Dortmund attacking midfielder Julian Brandt.
Apparently, the German midfielder would cost around £17.5 million after failing to hold down a regular starting berth at Dortmund.
Julian Brandt has started just 16 League games for the German club this season, and he needs to leave in order to play regular first-team football.
The former Leverkusen star has the talent to improve Arsenal, and it remains to be seen whether the Gunners can secure his services this summer.
Ceballos wants summer exit
Meanwhile, midfielder Dani Ceballos has admitted that extending the Arsenal loan might not be possible this summer.
The Real Madrid midfielder also claimed that a return to Spain would be ideal for him, and it could help him rediscover his form.
The Spaniard has had a tough time at Emirates, and he feels that he will have to find a club where he can settle.
The 24-year-old has struggled to hold down a regular starting berth at Arsenal, and Ceballos believes that La Liga suits his style of play, and he would prefer to leave the Premier League this summer.
“I’ve had a bad time because I didn’t have the consistency I had last year,” Ceballos told Onda Cero. “These last 5 or 6 games, I’ve played at a good level.
“To be honest, I like La Liga a lot more. The Premier League is more complete, but with my style, La Liga is much better for me.
“Another loan would be difficult from both sides, for Real Madrid and for me.
“I’m about to turn 25 in August, and I have to settle at a club where I feel important; that’s what I’ll look for,” he added. “I have a lot of affection for Betis; I’m a Betis fan, I watch every Betis game, [Manuel] Pellegrini is a really good coach who I like.”