Kyle Bartley admits the ongoing financial troubles at Rangers have left him in the dark when it comes to his season-long loan agreement.
The 20-year-old defender linked up with the SPL giants for a second time in August 2011, shortly after penning a new contract with the Gunners.
The idea was that he would spend a full season in Scotland taking in regular first-team football and working on his game.
It is, however, unclear whether he will be able to complete his loan agreement as Rangers are currently in the process of cutting costs after slipping into administration.
Bartley told Sky Sports News HD on Tuesday: "Nothing has currently been decided. My parent club is Arsenal so logic says that I will go back to Arsenal if cuts are made, but nothing has been decided.
"As it stands I am still a Rangers player for the season. As it stands I will be leaving Rangers in May to go back to Arsenal. But talks are still ongoing with the administrators so it's up to the club to come to some sort of conclusion."
The Rangers squad has been locked in discussions with administrators this week in an effort to reach an agreement that is beneficial to all concerned.
Both sides of the talks are keen to avoid sweeping job cuts at Ibrox, but it is understood that five players have already agreed to leave the club and no compromise has been reached when it comes to wage restructuring.
Bartley added: "It was quite bleak today and yesterday. There have been a lot of discussions but nothing has been decided. It's disappointing that nothing has been agreed and it looks like a few players will be leaving.
"It's a very sad time for Rangers Football Club. A lot of credit has to go to the players that are currently there who are all set to give up massive amounts of money to help the club survive and save a lot of people's jobs.
"Everyone is sad that such a massive club has come to such a crisis. It's a shame for everyone that's involved and the fans.
"I don't think anyone at the club wants to leave but it's a situation where players might have to in order to benefit the club."