Alexis Sanchez is said to be demanding around £200,000-a-week to sign a new deal, which would make him Arsenal’s highest paid player.
And the Daily Mail claim he is using a whopping offer to move to China as a bargaining chip in negotiations.
The 27-year-old has been in scintillating form this season, netting 13 goals in 20 games.
And Gunners chiefs are understandably anxious to tie him down as he approaches the final 18 months of his current contract.
Whether the Chile star would consider swapping Arsenal for the likes of Shanghai Shenua or Guangzhou Evergrande during the peak of his career is unknown.
However, he is fully aware that the £400,000-a-week proposal – £260,000-a-week after tax – represents something like his market value in the present climate.
The London Evening Standard claimed this week that Sanchez and Arsenal team-mate Mesut Ozil want to earn as much as Manchester United star Paul Pogba.
The midfielder returned to Old Trafford in an £89m switch from Juventus this summer, but not before Mino Raiola had secured him a £290,000-a-week wage package.
Arsenal are already said to be preparing for Sanchez’s possible exit if an agreement cannot be reached though.
And Arsene Wenger apparently sees Borussia Dortmund forward Marco Reus as an ideal replacement for the former Barcelona flyer.