The Melbourne City playmaker - whose 12 goals and seven assists have helped Aurelio Vidmar's side squeak into the playoffs - is the subject of reports in Italy, citing Udinese's interest in luring the 33-year-old back as a player before transitioning Arslan into a technical chief in place of incumbent Federico Balzaretti.
Arslan has an option for a second season at City, having signed from Udinese 11 months ago.
However it's understood his long term goal is to become a sporting director down the track, making the approach from a club he knows well after three successful Serie A seasons at Udinese highly tempting.
The White and Blacks, with Italian legend Fabio Cannavaro installed as head coach nine days ago in the midst of a relegation struggle, have four games left to retain their top flight status. They currently sit third last, two points from safety.
Arslan has the option of a second year at City, but wasn't pre-empting what might lie around the next bend when he spoke to FTBL in late March.
"I've learned in football you never know what comes next but for now I'm very happy to stay," he said.
"Let's see what the next few months brings. The most important thing is for the team to be successful."
Arslan was substituted after coming down with gastro symptoms in Sunday's vital 1-0 win over Western United which sealed sixth spot at the expense of Western Sydney Wanderers.
However, he is expected to be available for the elimination final against crosstown foes Melbourne Victory.