Arsenal have offered Alexis Sanchez £180,000-a-week to sign a new contract but the Chilean is holding out for £250,000-a-week, reports the Daily Mail.
Negotiations are reportedly “ongoing”, but the two parties are some way apart in their valuations of the 27-year-old.
Sanchez’s current deal is worth £130,000-a-week but it expires at the end of next season.
Last week Alexis Sanchez’s representatives were using a £400,000-per-week offer from China as a bargaining tool to secure the best deal for their client, although Sanchez is aware Arsenal would not be able to afford such a contract.
Wenger is adamant Sanchez and Mesut Ozil — who is also entering the final 18 months of his deal — will not be sold even if they have not penned fresh terms.
Striker Olivier Giroud and holding midfielder Francis Coquelin are also poised to sign new contracts.