Express Sport understands conditions outside the ground are being considered and the game may be called off if fans will struggle getting to and from the stadium.
Snow has fallen around London over the last 48 hours and train delays and cancellations are wreaking havoc.
Last night’s FA Cup tie between Tottenham and Rotherham went ahead, but only 25,000 fans were in attendance at Wembley.
Tonight’s match at the Emirates though is expected to bring in 60,000 fans.
And Ladbrokes have priced up a cancellation at 3/1.
Alex Apati of Ladbrokes said: “The Emirates pitch won’t pose a problem, but it looks like the journey from Manchester to North London will and we reckon there’s every chance City don’t make it to the capital in time.”
While Coral have now suspended betting on the game being postponed.
“It will be a big surprise if tonight’s game is given the green light as all the money before betting was suspended was for the tie to be postponed,” said Coral’s John Hill.
However Piers Morgan has suggested the game will go ahead.
“Damn it,” he wrote on Twitter. “Looks like tonight’s game is still on”.
And Manchester City players have begun their journey down to London.
PICTURES: MAN CITY PLAYERS BATTLE THE SNOW ENROUTE TO LONDON
Arsenal have released a statement calling for fans to be careful on their way to the ground.
“We want to remind supporters attending Thursday’s match against Manchester City that severe weather may affect their travel arrangements to and from Emirates Stadium,” it read.
“We recommend everyone coming to the game keeps themselves up to date of the latest travel information and leaves extra time to get to the ground, where necessary.”
Arsenal are hoping to earn some pride back after being thumped 3-0 by Manchester City on Sunday in the Carabao Cup final.
And Arsene Wenger remains defiant over his job, insisting it is amazing his future is being called into question.
“I am quite amazed that it is such an earthquake that we have lost a final,” he said.
“That means that we have got our fans used to going to Wembley and win it. But nobody can guarantee that.
“I told you that when you go to the final you have a risk to lose it as well and you have to accept that we got to the final and we won the Cup last year at Wembley, and so overall when you get to the final it is not guaranteed always that you win it.”
For City, however, another three points would see them close in on the Premier League title.
Pep Guardiola’s side are already 13 points clear and could move 16 ahead of Manchester United before their game with Chelsea on Sunday.