Arsenal are upping their contract offer to Alexis Sanchez.

The Daily Mail says the Gunners have offered Sanchez a new contract worth £300,000-a-week.

In a desperate bid to ward off the likes of Manchester City and Paris Saint-Germain, the Gunners have pushed the boat out in a big way.

Sanchez has demanded at least £300,000-a-week before he even considers hanging around at the Emirates.

But as yet there is no indication if he will accept this new offer.

Manager Arsene Wenger has remained adamant that he will keep hold of his star man, and has refused to accept he will be sold this summer.