Sanchez demands staggering new wages at Arsenal... £20m a year!

Arsenal offered the Chilean over £275,000-a-week to stop him joining the Citizens this summer, but Sanchez has refused to sign a new deal knowing he holds the aces with one year left on his current contract.

Wenger is trying to build a competitive side and his main priority involves keeping the squad's current stars, with Mesut Ozil asking for £350,000-a-week as he also enters the final year of his contract.

With the north London club desperate to retain the Chilean star, whose demands already scared off Bundesliga giants Bayern Munich, Arsenal could be pressured into handing Sanchez a record annual salary which would exceed £20 million.