Winston Reid
Winston Reid (R) has shocked West Ham United with huge wage demand to remain with east London club[Reuters]

Arsenal and Liverpool target Winston Reid has reportedly laid a bombshell on current club West Ham United by demanding huge fees and a signing on fee to pen a new contract and remain with the club.

According to the Mirror, the New Zealand international, who is on the final year of his contract with the club has demanded a contract worth £60,000-a-week and a huge £1m signing on fee to remain with the club beyond the current campaign.

It is believed that this demand from the defender, who has been a key player in the club's phenomenal start to the season could lead to him being sold during the January transfer window with Premier League clubs Arsenal and Liverpool keen to take him off the Hammers' hands.

West Ham have enjoyed their best start to a Premier League season and are currently in fourth place with 27 points from 15 games.

The east London club are hoping they can hold on to their player beyond the summer, but with such hefty demands, they may look at cashing in on him during the winter transfer window rather than lose him on a free during the summer.

Sam Allardyce had recently revealed that Reid's contract situation was a cause for concern for both the owners and him and is hoping a conclusion can be reached at the earliest. It is said that the club has set a deadline for Reid to sign a new contract before they decide to sell him to the highest bidder.

However, these demands made by the player will not deter other interested clubs as the Reds and the Gunners are keeping close tabs on the developments regarding Reid's future and will make a bid for his services during the January window.

Recent reports suggested that the Merseyside is leading the race to sign the defender as Arsenal have turned their attention to Ipswich Town defender Tyrone Mings, after Arsene Wenger admitted that he is keeping tabs on the Championship defender.