Sanchez has turned down a new contract worth £300,000 a week and will only enter a new deal if Arsenal make him the Premier League’s top earner, reports the Daily Star .
Paul Pogba is currently the highest-paid player in the division, earning £290,000 a week a Manchester United.
The Chilean, who has been strongly linked with a move to Manchester City this summer, has one year remaining on his current Arsenal deal.
Meanwhile, the Gunners are said to be struggling to tie Alex-Oxlade Chamberlain down to a new contract, with the Englishman reportedly demanding wages of £200,000 a week.
Sanchez is expected to make his first appearance of the new season during Arsenal’s visit to Liverpool on Sunday afternoon.