Arnautovic joined the Hammers from Stoke in a £20 million deal in the summer of 2017 and won the club's player of the year award after scoring 11 goals in his debut season.
After a promising start to the season under new coach Unai Emery, the Gunners have managed to register just two wins in their last five Premier League fixtures, losing two, with their last defeat a shell-shocking loss to table-topping Liverpool a fortnight ago.
Arnautovic's brother, Danijel, has issued a statement claiming that West Ham bought him for "peanuts" and should let him leave.
"Looking back on my career, one of the biggest things I've taken into my 50s and 60s is that I played for the right club. was connected with that club and I'm still connected with that club and its fan base".
West Ham have rejected a £35million bid from a Chinese Super League club, believed to be the champions Shanghai SIPG, for the 29-year-old Austrian global. It is close to double what they paid for him. He wants to go to a new market and challenge for titles.
An unnamed Chinese Super League club, believed to be the champions Shanghai SIPG, are understood to have offered £35 million for the 29-year-old, who is West Ham's joint-top scorer this season with eight goals. "This is what he wants". He will give 100 per cent for West Ham.
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"Those are all rumours".
"And I told him in six months he'll have to rename that horse "We Had Payet".
"I think they [West Ham] are improving and they also have good individual players with quality, like Anderson, like Arnautovic - who are very good players", he said. Marko in this moment is a player of our team.
Writing in his column for BetVictor, Owen said: "Arsenal are unbeaten in their last 11 away games against West Ham in all competitions, but if there is to be a victor at the London Stadium I feel it will be the hosts, as I still have my reservations about the Gunners defensive capabilities".
Until he is no longer a West Ham player, he will give everything to the club.
"They come and they go", he told the Alan Brazil Sports Breakfast.