The former England international is an experienced title winner, but his signing would send out completely the wrong message for the Gunners.
With his contract at Manchester United set to expire at the end of the season, the Premier League veteran is eager to take in at least one more season of football if possible, and the Mirror has linked him back to his hometown via the Gunners.
At 35-years-old, Ferdinand is unlikely to be a first choice anywhere, but it is claimed that he will be a squad player capable of coming in and performing to a high level at Arsenal.
With Thomas Vermaelen likely to seek first team football away from the Emirates next year, there is at least one central defensive spot available at the Gunners, and as Ferdinand would be available on a free, he may be an attractive option.
But with Arsenal likely to flex their financial muscles again in the summer, quite why Wenger would choose Ferdinand to add to his squad is perplexing. The Gunners are crying out for a talented central defender in their early-mid 20s to join their ranks, rather than a short term measure like Ferdinand.
Now is the time for Wenger to really turn heads with his transfer business, and he can't be tempted to move forward with bringing in youngsters full of potential but no experience, or those that will only have a minimal impact at the club.
Former defender Sol Campbell said recently that the club need a few top class signings to push them up the level that would see them make a sustained challenge at the top of the league: "Arsenal need some more players who are ready-made and world-class. With everyone fit, I think they need another three players."
Ferdinand certainly wouldn't fulfil that world-class request on present season form.
The ex-Hammer had told BT Sport earlier in the week that he was eager to keep playing, with United his preferred location to do that.
“I feel fit, I feel healthy, I feel good," the former England man said. "I’m enjoying my football so I’ll definitely be playing on for another year, hopefully two or three more. But I’ll take it year by year and hopefully another year.
“I’m happy here, I love playing my football. United’s been great for me, it’s enabled my dreams to come true and a lot of the things in football for me.
“So I have to respect whatever decision the club do, and I’ll do what’s best by the club.”