And he even thinks the mega-bucks deal – Ozil is now the highest paid player in Arsenal history – is one of the reasons Aaron Ramsey is leaving.
The Wales international yesterday signed a pre-contract with Juventus to join them in the summer.
“I think Arsenal probably regret Mesut Ozil’s contract more than Aaron Ramsey’s situation right now,” Reo-Coker told Sky Sports.
Asked if Ramsey wants more money because of Ozil, Reo Coker said: “That does play a certain aspect of it – and it’s difficult right now.
“They haven’t found their groove, they are in a rebuilding process and they haven’t got the financial funds to get new players in right now.
“Ramsey has been at the club his entire career and he knows what it’s like to wear the badge.
“It’s a great move for him on a personal level. It’s a new experience and he’ll definitely do well at Juventus.”
Gunners boss Unai Emery has already said his club will only be able to pull in loan deals this month with Barcelona midfielder Denis Suarez the chief target.
Now he says even those temporary moves may be a problem.
“This transfer window is not easy to get players that can help us with better performances than the players we have now,” said Emery.
“The club is working and I have spoken with Sven about different possibilities.
“But it’s not easy to take players that can help us with big performances right now. Maybe it will be one transfer with someone special.
” The club is working with the possibility for loan players to help us – if we can.
“I’ve been working with Sven the last two weeks. I don’t know if he’s leaving.”