We've known for some time now that the fight to re-sign Bacary Sagna was a longshot - he's had an offer on the table most of the season, but Arsene Wenger is known for not signing players over 30 to deals longer than a season. In Sagna's case, the club were prepared to make an exception, and the rumored offer on the mythical table is for three years at somewhere around or just north of £100K a week, which would double his current wages.
And that, all along, has been the sticking point for a lot of people as regards this deal - Sagna's good, but he's 31, and making an aging player who is probably due to enter his decline phase any time now one of the highest paid players at the club just doesn't seem worth it to a lot of people. If that contract were for two years at slightly less money, maybe, but overall, that deal is not good for the club. There are good, younger defenders around who make less than that and would take less than that to come to Arsenal.
It seems that Sagna would agree with this assessment, if the usually reliable John Cross is to be believed:
It already seems like a saga but now seems certain Bacary Sagna will leave Arsenal. Great shame. Worth noting #afc have offered him 3 years.— John Cross (@johncrossmirror) April 25, 2014
I don't actually think this has risen to "saga" level - Sagna's no Patrick Vieira, whose annual "I want to leave" party was one of the best attended in London until he actually left, nor is he a little boy with dreams of injuring himself while finishing mid-table. Bacary Sagna has been one of Arsenal's better defenders the last several years, but he wants a bigger and longer payday than Arsenal are prepared to give; at this point, I think it's best if Arsenal shake his hand, give him a lovely parting gift, and wish him well in his future endeavors.