Arsenal are set to up their contract offer to Alexis Sanchez, making him one of the highest paid players in the world.

With Manchester City and Paris Saint Germain willing to pay Sanchez over £300,000-a-week – Arsenal are ready to relent and get close to that figure.

Arsenal have been looking at paying Mesut Ozil £285,000-a-week to secure his future and they will now go to £300,000 for Sanchez.

Despite being one of the biggest deals in the Premier League, and by far Arsenal’s biggest offer – it would still be short of what City and PSG are willing to do – but sources close to the club are now hopeful they could persuade him to stay.

Whilst the offer won’t be a ‘take-it or leave-it’ offer – sources do admit that they will not be going any higher, and so Sanchez will be left with a decision to make.

As it stands, if he refuses to sign the new deal which will be offered – he will be running out his contract, which would allow him to leave for free next summer.

Bookmakers have turned very much towards Sanchez staying at Arsenal. He was odds-on to leave, but now he is priced at 13/8 and he is rated at 4/9 to stay put.