There seems to be no option to extend you current contract for two years. (tmonews.com)
The report further states Arsenal are believed to have opened talks with the attacker over extending his current contract at the Arsenal and if talks fail to pull through, they will consider a permanent deal for him away from the North London. (arsenalnewshq.com)
Arsenal are reportedly in talks over sealing the transfer of Schalke midfielder Max Meyer, who will be a free agent in the summer if he does not extend his current contract with the Bundesliga club. (caughtoffside.com)