Arsenal are poised to hold contract talks with Ozil when he returns to the club after the international break.
The Germany World Cup winner is the Gunners’ highest earner on £140,000 a week, while Chile star Sanchez is second on £130,000 a week.
But the problem for the north London club is that in doing so they will shatter their wage structure.
Arsenal’s rivals have been paying far more in wages to their players for far longer – Manchester United are shelling out £200,000 a week to Bastian Schweinsteiger and he hasn’t even played a game this season.
Sanchez and Ozil are both looking for between £200,000 and £250,000 a week to sign new contracts – figures the likes of Manchester United and Manchester City would only be too willing to meet.
Ozil has been linked with Manchester United as boss Jose Mourinho keeps tabs on the 28-year-old’s contract stand-off.
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Arsenal star Mesut Ozil has been linked with Manchester United
But the word on Sanchez is less positive, with talks ongoing since August but having made no breathrough.
That has sparked interest from Manchester City and Juventus, who are reportedly prepared to pay £50m to land the 27-year-old.
City boss Pep Guardiola is a big fan of Sanchez and could offer him the chance to stay in the Premier League on big money.
Arsenal could yet stump up the dollar necessary to tie down their two prized assets, but the fact remains that would require going into uncharted wage terriority.
Wenger has been prepared to keep pace with his rivals in terms of transfer fees – he paid £42.5m for Ozil, £35m on Skhodran Mustafi and £30m on Sanchez – but it remains to be seen if he and the club are willing to do so with wages.
And if they aren’t, with Ozil and Sanchez’s contracts ticking down they may be forced to sell next summer – or risk losing them both for nothing.