The Wales midfielder has been at the Emirates for 10 years and appeared to be close to reaching an agreement on a new four-year deal only for the club to walk away from the negotiating table. The other is the club, and the other is the squad.
Ramsey has been a key part of Arsenal's first team in recent years having provided 59 goals and 59 assists in 338 games since joining the club from Cardiff City ten years ago and has scored some important goals to help the club win 3 FA Cup's.
"It's a game of poker now, but Arsenal have lost the power".
Explaining his own exit earlier this month, Gazidis - who was instrumental in the appointment of Emery - said: "I know many will think this is a odd time to be leaving but I believe it is the right time for me and for the club".
"I respect his decision to play or not play with the national team", Emery said of Ozil, who retired from worldwide football after the World Cup.
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The renewal of Mesut Ozil's contract and the arrival of Pierre-Emerick Aubameyang and Henrikh Mkhitaryan on high salaries have sent the club's wage bill to record levels. It is no secret that he wants to play in a central midfield role, but with Ozil considered the club's biggest asset after signing a new deal in January, it always seemed unlikely that he would get his way.
There will be no shortage of takers and the report says that Manchester United and Chelsea are showing a keen interest in signing Ramsey while Juventus and Lazio are ready to try and lure him to Italy.
"Maybe I will someday, who knows what will happen in the future?"
'Tomorrow I want, and we want, his best performance. "I've said it once: I would love to someday play in La Liga, at one of the greats".
He is current the Gunners' longest serving player.