Arsene Wenger believes Alexis Sanchez does want to stay at Arsenal but money must be right

The Chilean has so far yet to agree on a new contract with the Gunners with him understood to be holding out for upwards of £250,000 per week

Alexis Sanchez is yet to pen a new deal at the club (Getty)

Arsene Wenger believes Alexis Sanchez does want to stay at Arsenal with the financial issues in play the only remaining obstacle.

The Chilean has so far yet to agree on a new contract with the Gunners with him understood to be holding out for upwards of £250,000 per week, a significant increase on his current terms.

Sanchez has cut an increasingly frustrated figure in recent weeks with the team's miserable form seeing them crash out of the Champions League and fall off the pace in the race for the top four.

But Wenger believes his star man is on board with what the club are trying to achieve and does want to be a part of it going forward.

"I believe that he basically wants to stay at the club and it is about doing a deal with his agent," he said at his weekly press conference.

"The players have to see if they're happy, find an agreement and finances are also involved in that."

Sanchez's teammate Ozil is also involved in a similar contract wrangle and is also yet to commit his long-term future to the club.

Ahead of Monday’s Premier League clash with Crystal Palace, Wenger was forced to defend Özil once again claiming he struggled to cope with the European exit, and explained why he took it worse than some of the other players among the Arsenal squad.

“He’s very ambitious,” Wenger said. “He wants to win the Champions League. He cares much more than people think that he does.”