Adebayor told the News of the World: "Either Arsenal give me what I want and I stay or they don't and I leave."
It would rival the pay of former skipper Thierry Henry, now at Barcelona. Adebayor said: "People ask if I'm asking for the same salary as Henry. That is not necessarily the question.
"But I am being considered a worthy replacement for Henry while not deserving his salary. The question lies on this level."
Adebayor made it clear he would snub Milan in favour of Barca if the Gunners do not meet his demands.
The ex-Monaco striker, who scored 30 goals for Arsenal last season, added: "Milan are a big club but the fact they are not playing in the Champions League next season is less of a challenge.
"Barcelona have made a good financial offer and there is also the chance to play alongside great players. Yes, I am still under contract to Arsenal but it's up to the directors to satisfy my demands or I'll leave."
