Arsenal superstar, Alexis Sanchez is yet to sign a new deal with the club, and Arsene Wenger reveals the one aspect holding up the process.

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The Chilean's contract runs out in 2018 and if the Gunners don't extend his current deal, they could lose the player for free next season.

Sanchez has since attracted interest from London rivals Chelsea and French Ligue 1 champions, Paris Saint-Germain.

However, Wenger reveals they are struggling to reach an agreement due to wage demands.

"I believe that basically he wants to stay at the club and it is down to finding an agreement with his agent," Wenger told reporters at his press conference.

When asked if the player was waiting to see the Gunners' transfer plans before signing, Wenger replied, "No, I think the players first have to see are they happy at the club.

"After that most of the time it is down to finding an agreement - but finances are involved in it, yes."

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Do you think Sanchez should sign a new deal with Arsenal? Have your say in the comment section below.