Bayern Munch is preparing a gigantic contract offer for Alexis Sanchez, according to The Mirror.

The Chilean is stalling on extension negotiations with Arsenal, and Bayern believe they can nab the attacker with a mammoth deal.

The Bavarian club is willing to give the 28-year old £350,000-per-week, which would make him the highest earner at the club.

Alexis gave no indication on Thursday that he would be re-signing with Arsenal.

"The truth is that my agent will see to it. He knows and he will sit down with the club to look for the best option for me," Sanchez said at the Confederations Cup in Russia.

"I'd like a lot of things but I'm only thinking about the national team."