Arsenal is ready to make Alexis Sanchez the highest-paid player in the Premier League, in order to convince the 28-year-old to stay at the club.
Mail Online reports that the improved offer will see Sanchez earn £300,000-a-week at the Emirates if he puts pen to paper.
The Gunners have seen the Chilean enter the final year of his current contract, sparking interest from Premier League rivals Manchester City and Paris Saint-Germain.
Arsenal manager, Arsene Wenger, has revealed that Sanchez will miss their first two Premier League fixtures of this season.
Sanchez has an abdominal strain and Wenger says he is likely to be “out for a while”, ruling him out for the first two games against Leicester City this Friday and Stoke next week.
However, the Frenchman insists Sanchez remains “focused” on playing for the Gunners this season amid continued speculation about his future.