The Colombian international has had a mixed time of it at the Allianz Arena after joining on a two-season loan deal from Real Madrid, and it is has been claimed he could be on the move before the month is out.
Rodriguez has struggled for action under the leadership of Niko Kovac, who will be happy for him to move on if it will free up some space to bring in players of his own during the January transfer window.
Real are in no rush to take him back to the Bernabeu either and that could clear the way for English Premier League side Arsenal to strike a deal.
It has been claimed the Gunners are willing to pay Real a £3 million loan fee to take him for the remainder of the season and will then pursue a permanent deal if he impresses during his time at the Emirates Stadium. A deal that could suit all four parties involved.