Bendtner has been deemed surplus to requirements at Emirates Stadium and spent the 2012/13 campaign on loan at Serie A champions Juventus.
Injuries prevented him from making the desired impact in Italy and no permanent deal has been discussed.
There are, however, plenty of other clubs willing to offer the Denmark international a route out of north London.
Frankfurt are keen on taking him to Germany, and a transfer is in the process of being thrashed out.
Bendtner's representative, Tom Brookes, told Ekstra Bladet: "I can't say too much but I hope to have everything sorted out by the end of the week.
"I was in Frankfurt last Sunday."
Meanwhile, as Frankfurt close on the capture of a new arrival, Vadim Demidov is looking for the exits after spending the second half of last season on loan at Celta Vigo.
His agent, Bjoern Tore Kvarme, told VG: "He has got a contract with Eintracht Frankfurt and both he and the club have got to respect it, but it is no secret that the situation is not ideal.
"We are checking out some options. It is certainly important that he gets regular playing time."