Arsenal are open to offers for Kolasinac, who is out of favour under Mikel Arteta at the Emirates Stadium.
The club are ready to sell him before the end of the transfer window next month and the former Schalke man has been linked with a move back to Germany.
Kolasinac is open to a return to the Bundesliga this season and Bayer Leverkusen have emerged as the favourites to land the player in the coming weeks.
And according to German magazine Sport Bild, Leverkusen have scheduled talks with the player’s entourage over the potential deal.
The German club are believed to be ready to meet Arsenal’s €10m asking price, which they feel is a manageable transfer fee for Kolasinac.
But the real hurdle in the negotiations is the defender’s €9m per year contract and the club are keen to find a way around it.
The talks between Kolasinac’s representatives and Leverkusen are expected to be centred on his wage demands.
Leverkusen are hoping that a longer deal with staggered bonuses will cover his full wages over the course of the contract.
Kolasinac could leave Arsenal and Leverkusen are confident that a compromise can be agreed over his salary demands with the player’s camp.