The report states that Arsenal are preparing contract talks with Sanchez over next few weeks. The Gunners are willing to offer the Chile international in excess of £140,000 per week.
Özil currently earns £140,000 at the North London based side after joining from Real Madrid back in 2013.
The report also states that Arsenal are planning o offer Özil an improved contract. The 26-year-old played a staring role in Germany’s 2-1 victory over Georgia in the Euro 2016 qualification game last week.
Özil was selected as the man of the match by whoscored. The 26-year-old received a rating of 8.78.
The World Cup winner makes up one of three players in the Germany national team of Turkish origin with the other two being Liverpool star Emre Can and the other Borussia Dortmund midfielder İlkay Gündoğan.