Former Arsenal striker Tony Woodcock says Robin van Persie should sign a new contract.

Van Persie, 28, is yet to agree a contract extension beyond June 2013, with Manchester City known admirers.

"With somebody like Robin, it cannot be a financial thing at this stage in his career," Woodcock told BBC Sport.

"Players want to win things and he is not far from winning things [at Arsenal]. He has to balance that up."