The midfielder is set to leave the Emirates, but only on loan, as he steps up his recovery from a serious knee injury suffered earlier this year.
He featured in Arsenal's memorable Capital One Cup win at Reading, and insists his future lies with the club.
However he has said that this is an important week for him as he and the club sit down to weigh up offers for his services, with the intention of going out on loan to play regular league football, something which appears beyond him at present.
Here is what he had to say on Twitter this evening...
Subject to rumours am not leaving afc I am positive of going on loan this week which am really excited about and I am fully commited to afc— Emmanuel Y Frimpong (@Frimpong26AFC) November 12, 2012
And am not in my last year or looking to be sold just to clear matters thank you and going on loan to get games and cum back to arsenal— Emmanuel Y Frimpong (@Frimpong26AFC) November 12, 2012
He also thanked Wolves fans for their numerous messages and attempts to sway him to return to Molineux, adding this would be a 'defining week for him'.
Wolves are among the favourites to sign him, after he impressed there in January before he got injured, but Ipswich, managed by Mick McCarthy - Wolves boss at the time, are also thought to be interested.
Which is the best club for Frimpong? Can he make it at Arsenal?
image: © Ronnie Macdonald