Manchester City have offered Ilkay Gundogan a two-year contract extension, but no decision has been made by the midfielder just yet, Fabrizio Romano revealed exclusively to GIVEMESPORT.

Speculation surrounding Gundogan's future has been rife, but Romano insists the German is yet to commit to the Etihad Stadium outfit.

Manchester City transfer news - Ilkay Gundogan

Despite currently donning the captain's armband for the Premier League champions, there is a real possibility Gundogan could be waving goodbye to City when the season concludes later this month.

As per a report by The Athletic, Gundogan has emerged as a shock target for runners-up Arsenal, who view the silky midfielder as a short-term Granit Xhaka replacement.

Mikel Arteta worked with Gundogan while assistant manager to Pep Guardiola at City, and the Spaniard is now keen to bring him to the Emirates Stadium next season.

It's a move that will likely be vetoed by City, if they have the chance, as Gundogan's £140,000-per-week contract in east Manchester is due to expire at the end of the campaign.

Brought in as Guardiola's first signing when arriving from Bayern Munich in 2016, Gundogan has formed a crucial part of the Catalan's time in Manchester, but could be about to leave on a free transfer.

It won't be for the lack of trying from City's end, with Romano insisting the treble-chasing Blues have issued Gundogan with fresh terms, but are currently awaiting his decision.

What has Fabrizio Romano said about Gundogan's City future?

When speaking exclusively to GIVEMESPORT, transfer expert Romano revealed Gundogan does have a proposal on the table from City, but is putting off making a decision just yet.

On the 32-year-old, Romano said: "At the moment they know that it's up to the player and the player has not communicated anything yet to Manchester City. He has a proposal from Barcelona, he has a proposal from Manchester City, which is one year plus one more to extend as an option. So, this is a proposal from Man City.”

When will Gundogan make a decision on his City future?

According to an Evening Standard report, Gundogan is set to put off a decision on his City future until after the Champions League final.

Guardiola's men face Inter Milan on June 10th in Istanbul, with Gundogan expected to lead City out as skipper in what is only their second-ever Champions League final.

It's claimed after the dust has settled, and City's trophy haul for the campaign has been confirmed, Gundogan will sit down with the club's hierarchy to formalise a decision.

As Romano suggests, City will be keen for the German international to put pen to paper on a fresh deal, with Guardiola still convinced about his ability to perform for the Blues.