Charlie Nicholas has urged Arsenal to tie down superstars Mesut Ozil and Alexis Sanchez to brand new contracts.

Both Sanchez and Ozil will soon be entering the final 18 months of their respective contracts at Arsenal and while the Gunners have already commenced talks regarding extensions, they have not been able reach an agreement with the duo.

Due to the long drawn negotiations, there has been speculation that Arsenal may end up losing both Ozil and Sanchez this summer and club legend Nicholas has now urged the Gunners hierarchy to pay top dollar in order to keep the two superstars at the Emirates Stadium.

Nicholas stated in the Daily Mirror: "They are looking at tying down Ozil and Sanchez on long contracts, which is massively important, and that would be a big statement of intent.

"But there is no reason why Arsenal can't pay top dollar for their best players now because the Emirates Stadium is paid-for and they are not so constrained by finance.

"It's time for the players to deliver – if they don't, they will come under pressure from the fans and so, I'm afraid, will the manager."