Arsene Wenger has dismissed reports that Arsenal has offered Alexis Sanchez an extension worth £300,000 per week.

"Let me calculate. How much is that per year? Yes, OK," Wenger said with a laugh. "First of all, I cannot confirm that we have offered that. Secondly, we will do as always ... we have to consider our financial potential to sustain the wages for the whole squad.

"What is for sure is that what is paid per week today was 20 years ago per year. Will that continue to go up? I don't know. I'm always tempted to say no but I was wrong on that front."

Sanchez's extension talks will pick up in the summer.