Both Mesut Ozil and Alexis Sanchez have two years remaining on their current contracts, and talks between both players' representatives and Arsenal have been going on for some time now.
Today, the Times is reporting that each player is asking for a wage packet that would see their weekly salaries go to £250,000:
Arsenal’s protracted contract negotiations with Mesut Özil and Alexis Sánchez could cost the club £36 million more than they had originally budgeted for.
The Times has learnt. Talks are due to reopen after the international break this month, with both players understood to be asking for £250,000 a week — £70,000 a week more than the figure discussed during preliminary negotiations 12 months ago.
It's no secret that Arsenal would prefer to hold on to both players than to see them go, and it's apparently going to cost them a boatload of money to secure their services into the twilight of their respective careers.
Ozil has firmly established himself as one of the best midfielders in the world, the key cog to Arsenal's attack. And Alexis appears to have reinvented himself in the mold of a deadly center forward capable of converting goal chances while also drawing attention to himself from defenders which has freed up the likes of Theo Walcott to thrive in the space he's created.
Here's hoping talks go well, but as we've seen with these negotiations in the past anything can happen.