Arsenal will offer Mesut Ozil and Alexis Sanchez a combined £30m-per-year in order to keep the pair at the Emirates beyond 2018.

According to reports in the Mirror, the Gunners will offer Sanchez a new contract, which contains a two-year extension, worth over £275,000-a-week. The deal will keep the Chilean at the Emirates until 2020.

Ozil, 28, has reportedly been offered £280,000-per-week, but is holding out for closer to £350,000.

The pair were both visibly ecstatic after winning the FA Cup last weekend, and the Gunners are hoping they can ride this wave of optimism into securing their two most prized assets.

It is understood that the contract situation will be discussed during Arsene Wenger's meeting with the Arsenal board on Tuesday.

Reports have indicated that both Bayern Munich and Manchester City are looking to buy Sanchez if the contract negotiations fail.