Arsenal offer £300,000 a week contract to Alexis Sanchez

Arsenal are reportedly prepared to make Alexis Sanchez the highest paid player in the Premier League in a desperate attempt to keep hold of his services.

The Chile international, who has been named in the PFA Player of the Year shortlist, has yet to agree an extension despite his contract due to expire in 14 months' time.

Sanchez is said to have previously demanded a sum close to the £290,000 a week paid to Manchester United's Paul Pogba, and according to The London Evening Standard, the Gunners are set to bow to his demands with a £300,000 package.

The move is understood to have come about amid interest from the likes of Chelsea and Manchester City, who are both prepared to cough up a £50m fee for his services in the summer.

Sanchez has had his best season in the Gunners shirt this term with 22 goals and 14 assists for the north London giants, who are still in line for a potential FA Cup triumph.