Alexis Sanchez has reportedly told Arsenal that he wants wages of £400,000 per week to remain at the Emirates Stadium.
The Chile international has been linked with a big-money move away from North London following stalled talks over a new Gunners contract.
According to The Mirror, Arsenal have so far offered Sanchez in excess of £275,000 per week, but with his contract running out next summer, the striker is prepared to hold out for a better offer from either the Gunners or elsewhere.
The report also suggests that Manchester City will not be considered by Arsenal due to them being Premier League title rivals, while Bayern Munich have been scared off by Sanchez's demands.
On Wednesday, Arsenal broke their transfer record to recruit Alexandre Lacazette from Lyon, a signing deemed by former Gunners striker Charlie Nicholas as a "big statement of intent".
