The defender is keen to exit the Emirates Stadium and is now in Germany to seal a six-month loan switch to Schalke, where he plied his trade before joining Arsenal.
And so keen is Kolasinac to make the move back to Schalke that he will take a 50 per cent pay cut, according to German daily Bild.
It is claimed that the Bosnian will pick up €2.4m over the course of the six month loan spell in Germany.
Kolasinac will be looking to clock regular game time at Schalke under experienced former Tottenham Hotspur boss Christian Gross.
He is walking into a dire situation as Schalke sit rock bottom of the Bundesliga table.
The Ruhr giants have picked up just four points from 13 games and are without a single win to their name.
They are due to face Hertha Berlin in their next clash, before then playing host to Hoffenheim, and Kolasinac will hope he can help the side improve their fortunes.
