The 29-year-old is yet to put pen to paper on a new deal at Bayern Munich and looks set to leave the club for free at the end of the season.
Sane has interest from across Europe and Dietmar Hamann has urged Arsenal to sign him, but only if the deal was performance based.
Speaking to PokerScout, Hamann said: "Leroy Sane’s consistency has been a problem with Bayern Munich. This is why he probably won't get offered a new contract.
“However, I think if you give him a performance-based contract, you’d have a brilliant player on your hands. That's what I would do. I heard that Arsenal are interested and I wouldn’t be surprised if that's the case.
"I think he's a good kid. I think some people read too much into body language, If you look at Lionel Messi's body language, you think he's a non-league player.
“So I don't give too much thought to that. I think he's a good kid. The fact is he's not been consistent enough, but that doesn't mean he won't be for Arsenal next season."