Arsenal are reportedly planning a £30m ($38.4m) investment in a bid to convince Alexis Sanchez and Mesut Ozil to pen new contracts and remain with the Gunners for the foreseeable future.

Sanchez and Ozil are one month away from entering the final year of their contracts with the club and they are yet to give any indication whether they will remain in north London beyond the summer. Arsene Wenger has made it clear that Arsenal wants to retain their services.

According to the Mirror, Arsenal are planning to offer the duo a combined £30m in wages over the next two years in the hope of extending their deals. The Gunners recently won their third FA Cup title in four years beating Chelsea in the final and the manager is hoping that it acts as an aid in convincing his top stars to commit their future.

Arsenal will have to smash their current wage structure to accommodate Sanchez and Ozil's demands, and the report states that they are willing to go over and beyond in order to keep them at the club. The former has been offered a deal in the region of £275,000-a-week, while the latter has also been offered wages in the same region – which will make them the highest paid players in the history of the club.

The Chile international's contract situation has attracted interest from a number of clubs across Europe with Bayern Munich said to be leading the race after his compatriot Arturo Vidal, who plays for the German club confirmed that his club had enquired about Sanchez. Ozil, however, has not been linked to any club but will not be short of suitors should he become available.

Both the players have stated that they are happy in London in the recent past and Arsenal are hoping that mega-money offers and the positive outlook provided by their recent success in the FA Cup will convince them to sign new deals.

Alexis Sanchez
Sanchez and Ozil were at their best as Arsenal won their third FA Cup in four years beating Chelsea in the final on Saturday (27 May) Getty

Meanwhile, Wenger's future at the club also remains uncertain with the manager's contract expiring at the end of next month. The club have scheduled a board meeting today (30 May) where they will decide if the Frenchman will extend his 21-year reign at the club. The futures of Sanchez and Ozil are also said to be on the agenda.