The France left-back is demanding a three-year deal worth £120,000-a-week, plus a £6m signing-on fee and a testimonial.

So far the Gunners have offered to keep paying Sagna £60,000 a week for two more years after this season.

But Sagna has told them he has big offers on the table from Monaco and Galatasaray worth £20m NET over four years - that’s £100,000 a week in his pocket - plus a £6m signing-on fee.

“The player’s first option is to stay at Arsenal,” said a source close to Sagna.

“He will consider signing a new three-year contract, salary £5m to £6m a season, plus signing-on fee and bonuses.

“It also has to include a testimonial at the end of the deal, when he would have completed 10 years at Arsenal.

“There is one more round of talks left before the season finishes.