The 28-year-old had been on an extended break after helping Spain win Euro 2024 this summer and has attracted the attention of a number of clubs including Arsenal.
Real Sociedad president Jokin Aperribay spoke last week about how he had his doubts that Merino would return and how he the club would push for the best deal if an offer came in.
“I don’t know, we are aware that Merino has offers, and we know them,” Aperribay was quoted as saying by Spanish outlet Mundo Deportivo.
“The conversation with him and those around him has been very sincere and I hope his decision is to stay, he already knows that we want him to stay. He has had a renewal offer for some time. And if not, we will try to negotiate the best way out for Real Sociedad.”
Atletico Madrid were said to be interested in the Spaniard but have now agreed a deal for Chelsea’s Conor Gallagher which leaves the door open for Arsenal this summer.
The midfielder is now on his final year of his contract and if the club want to cash in on the playmaker it would have to be this summer.
The club take on Union Berlin this week in their last preseason friendly before facing Rayo Vallecano in their first La Liga fixture.