Arsenal turned down a 1m-a-week offers to stay at Arsenal.
The German playmaker signed a new three-and-a-half year deal to remain at the Emirates in February and became the highest paid player at the club after much speculation over his long-term future at Arsenal.
But the 30-yar-old could have pocketed much more than the £350,000-a-week he currently earns as he had major offers from clubs in Asia.
“We had some really big offers from Asia – there were some crazy offers. But, for Mesut, money was by no means the biggest factor.
“Money is definitely one important thing to consider, but people must remember that footballing ability is just one aspect of a contract negotiation.”
Sogul added that commercial reasons also played a part in Ozil’s decision to stay at Arsenal as the German is heavily followed on social media:
“It came down to what was in his heart. We were free to sign with other clubs and, in the end, Mesut loves the club.
“I put everything to him and he just said, ‘this is my home, I want to be here’.”
Although Ozil has shown his loyalty to Arsenal, many of the fans will be expecting more from him this season after becoming the highest-earning player at the club.