Nwaneri, 19, managed just two goals in 11 appearances in France before returning to Arsenal for pre-season, according to The Sun, with his situation not helped by Roberto De Zerbi's departure from Marseille partway through the loan; he started only once in Ligue 1 under successor Habib Beye from the start of February.
Borussia Dortmund have long admired the playmaker and previously attempted to sign him outright before he signed a contract extension at Arsenal, and they are far from alone in monitoring the situation, with Chelsea, AC Milan and Juventus also credited with interest.
Arsenal's squad depth in Nwaneri's favoured attacking positions could squeeze his opportunities this season, with Eberechi Eze and Martin Odegaard both established options at No. 10 and 16-year-old academy graduate Max Dowman also emerging on the scene. No formal approach from Dortmund has been made, and Arsenal are yet to communicate any desire to sell the Hale End graduate to the player or his camp, meaning any move remains speculative rather than advanced.
Nwaneri is expected to get an opportunity to state his case for regular first-team football before any decision is made, with Arsenal's first pre-season friendly against Girona in Spain on Saturday likely to see him start given the continued absence of Eze, Odegaard, Declan Rice, Martin Zubimendi and Mikel Merino, who all remain on holiday following the World Cup.
Nwaneri made history in September 2022 as the youngest player to ever appear in the Premier League, aged 15 years and 181 days, before Max Dowman broke that record earlier this year. He made 37 appearances for Arsenal in 2024-25, scoring nine goals, prior to being sent out on loan in January.
Marseille had no option to make the move permanent, meaning Nwaneri was always due to return to north London regardless of how the loan spell went, and he did enough during his time in Ligue 1 to still be regarded as one of the more sought-after young English talents on the continent, even amid a stop-start six months on the pitch.