The German is on £350,000-a-week as their highest earner and such a salary, in comparison to that of his team-mates, is believed to have played a part in Aaron Ramsey’s exit on a free transfer back in the summer.
Hislop fears that it could also lead to Aubameyang leaving, since he does not believe Arsenal would be capable of putting the striker on parity with Ozil financially.
The ex-keeper told ESPN FC: “If you’re Aubameyang, you’re quite clearly the best player on their books.
“I’ve always said that Mesut Ozil continues to cause them a problem in terms of offering new contracts.
“If you are asking for a new contract, you want to be on Mesut Ozil money. I’m not sure that Arsenal can afford that.
“At the same time, amazingly, we’re talking about Arsenal’s best player, contract running out, yet again.