Sagna's current deal expires in June.
The Daily Mail says Sagna has been embroiled in a long-running contract dispute with the Gunners after rejecting a 12 month extension last season.
The club have recently made the right-back an improved offer of a two-and-a-half year deal, expiring in 2016.
The new offer does not include a pay-rise on his current £70,000-per-week wages, however.
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