Arsenal have offered Alexis Sanchez £9.3million a year to sign a new contract — but the Gunners are still significantly short of meeting their forward’s wage demands.

Arsenal’s opening offer of £180,000 per week is a healthy increase on the Chilean’s current deal worth £130,000.

Nevertheless, Sanchez, 27, is determined to land a contract worth a minimum of £250,000 per week.

Dialogue between the player’s representatives and the club are ongoing, with Arsenal still hopeful.

They are likely to improve their offer in the coming weeks as manager Arsene Wenger looks to safeguard Sanchez’s future with just 18 months left on his contract.

Sportsmail revealed last week that Sanchez’s representatives are using a £400,000-per-week offer from China as a bargaining tool to secure the best deal for their client, although Sanchez is aware Arsenal would not be able to afford such a contract.

Wenger is adamant Sanchez and Mesut Ozil — who is also entering the final 18 months of his deal — will not be sold even if they have not penned fresh terms.

But it remains to be seen whether the club are willing to risk them leaving for nothing in 2018 when they could net hefty transfer fees for the pair.

In contrast to Sanchez’s talks, there is a growing confidence at the Emirates that Ozil, 28, will sign a new deal.

Striker Olivier Giroud and holding midfielder Francis Coquelin are also poised to sign new contracts.