Klopp, 47, won two successive Bundesliga titles with Dortmund, reached the Champions League final in 2013 and turned the club into a European powerhouse - but is now set to take a year away from football, as reported by Bild.
Klopp's imminent departure from Signal Iduna Park is likely to trigger interest in his services despite a poor season by Dortmund's high standards - and one club who had previously been suggested as a possible destination for Klopp was Arsenal.
The Gunners have had Arsene Wenger at the helm for almost 20 years now, and with the Frenchman now 65, Klopp is one of the bookies favourites to replace him in the future.
However, The Telegraph report that despite Klopp's impending availability, they have no interest in moving away from Arsene Wenger just yet.
In fact, they suggest that Arsenal are set to hand Wenger a whopping £50m transfer budget this summer in order to give the Gunners the best chance of winning the Premier League.
With the likes of Alexis Sanchez and Mesut Ozil recently signed, Wenger may be able to bring in another world class player with that money - and it seems that his future at the Emirates Stadium has been guaranteed for some time yet.