The 31-year-old's current deal with the Gunners expires at the end of the season, and Goal understands that there is yet to be a breakthrough in negotiations despite the club's willingness to reach an agreement.
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"I love Arsenal, I love playing for Arsenal, I love my team," he is quoted as saying by the Mirror. "Arsenal are the most followed team in France and I remember I used to watch them when I was in France so it was a pleasure to play for them, so why leave?
"It's great here. It was like a dream when I joined the club because I used to follow Arsenal when I was in France and then I had the opportunity to join them and it's a pleasure to play for the team."
Inter officials have been in England finalising a deal for Manchester United captain Nemanja Vidic, and have also launched a bid to sign Patrice Evra when his deal expires this summer.
The Nerazzurri face competition from several clubs for both Sagna and Evra, while both sides have also offered their respective stars new contracts.