Arsenal are offering Alex Oxlade-Chamberlain a new contract.

The Daily Star says they have offered Oxlade-Chamberlain a new four-year deal worth £125,000-a-week to fend off interest from Chelsea.

Antonio Conte has made the England star one of his top transfer targets and with Chelsea bidding £40m.

Oxlade-Chamberlain is understood to be tempted by the prospect of a move to Stamford Bridge and was unimpressed with Arsenal's initial offer of less than £100,000 a week - less than a third of what is on the table for Manchester City target Sanchez.

But the Gunners are believed to be optimistic the 24-year-old will now accept the improved terms and sign up.