Arsene Wenger is in talks with Alexis Sanchez in a bid to persuade the Chilean to extend his current contract until 2020, Metro has revealed.
The 27-year-old is a confirmed target for Serie A giants Juventus.
The Chilean became one of the key members in Arsene Wenger's squad after joining the club from Barcelona in the summer of 2014.
He was again the hero for his country after Chile beat Argentina to win the Copa America.
According to recent reports, the Gunners have offered a £160,000-a-week contract to keep the attacking midfielder at the Emirates.
At the start of the week, agent Fernando Felicevich confirmed that Juventus want to sign the player although Arsenal have made it clear that he is not for sale.