The Chilean want an increase on his £130,000-a-week salary

Arsenal star Alexis Sanchez wants to open talks over a new contract that would make him the highest earner at the club.

The forward's current deal expires in 2018 but his representatives are already keen to renegotiate an increase on his £130,000-a-week wages to reward him for his stunning form since moving to north London.

Alexis, 26, has been linked with Real Madrid, but we understands he has no intention of leaving Arsenal and has just bought a multi-million pound apartment in a new development in Kensington.

The Chilean, who cost Arsenal £35 million in 2014, wants a pay package that reflects his status as the squad's most important player. He scored 25 goals in his first season at the club and has struck seven times in 14 appearances so far this campaign.

Arsenal are understood to have been receptive to the idea of making Alexis their best-paid player and are preparing an offer that would keep him in north London for the next five years.

Alexis is currently the third highest paid player in the Arsenal squad. Theo Walcott earns £140,000-a-week on the contract he signed over the summer, the same as £42m playmaker Mesut Ozil, who is also in line for a new deal.