The Times state that the Gunners are keen to tie the duo down to long-term deals as they both have two seasons remaining on their current contracts.
The report says that it is unclear why Ozil and Sanchez are delaying talks however, Arsenal’s failure to compete for major titles or sign big names over the summer could be a factor.
Arsenal have won just two FA Cups in the last three years, and finished second in the Premier League last season. Both Ozil and Sanchez were used to winning major titles at their previous clubs.
Ozil has been ruled out of the North London based outfits first Premier League game of the season against Liverpool this weekend. The Gunners will also be without Olivier Giroud and Laurent Koscielny according to head coach Arsene Wenger.