The 26-year-old jumped ship ahead of the 2021-22 season when he made the switch from Championship-bound Sheffield United to the Gunners for a fee in the region of £30m.
Ramsdale established himself almost instantly as the first-choice goalkeeper at the Emirates, starting 34 of his side's Premier League matches during his maiden campaign in North London.
However, there was set to be a monumental change in the Englishman's game time under Mikel Arteta due to the loan arrival of David Raya from Brentford last summer.
Although it was initially suggested by Arsenal's Arteta that Ramsdale and Raya would battle it out for a place in between the sticks, it quickly became clear that the Spanish coach prefered his compatriot in between the sticks.
Arsenal's Ramsdale rules out move to Newcastle United
Having played just six Premier League matches this season, Ramsdale is understood to be looking for a move away from Arsenal this summer in search of regular first-team action.
According to Football Insider, the 26-year-old will not be linking up with former manager Eddie Howe at Newcastle United, whose goalkeeping situation has become clear ahead of the transfer window.
With Nick Pope expected to be fully fit ahead of the 2024-25 season after an injury-riddled term this time around, it is believed that the ex-Burnley man will be first choice in the North-East.
Arsenal's Ramsdale wants a transfer away but is seeking guarantees over game time, with the shot-stopper not willing to be second choice at St James' Park.
The Magpies will need to make at least one goalkeeper signing this summer, with Loris Karius and Martin Dubravka both expected to depart the club at the expiration of their contracts at the end of June.
Arsenal preparing for post-Ramsdale life?
It was reported that Newcastle were preparing a £15m bid for Ramsdale, however it is now believed that a move to the North-East for the keeper is not the cards.
It is understood that Howe's troops are set to be walking a tightrope with Profit and Sustainability rules this summer, meaning that any high-profile additions will need to be funded by departures.
Arsenal also have to be careful with their spending during the transfer window, however that has not stopped the Gunners from supposedly targeting a new goalkeeper.
With Ramsdale's future at the Emirates increasingly uncertain, it is said that Arteta is plotting a swoop for Feyenoord man Justin Bijlow, who would come to North London as a deputy for first-choice Raya.