Wilshere is due to fall out of contract at the end of the season and as things stand there is no agreement in place to sign a new one and he could leave on a free transfer in July.
Manchester City and Chelsea have both emerged as surprise contenders, but reports now claim that Wilshere could turn his back on the Premier League and head to La Liga with Real Betis.
It is claimed that Betis are confident of luring the midfielder at the end of the season, and could even land him for a cut-price fee in the January window if a new deal with the Gunners cannot be agreed.
Arsene Wenger has said a decision on Wilshere's future will be made in December and there is a very good chance he will move on in January if he is told he is not in Wenger's plans.
Wilshere needs regular football if he is to force his way back into the England squad for the World Cup in Russia and that seems unlikely at Arsenal.