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Arsenal manager Arsene Wenger recently signed a 2-year-contract extension at the Emirates Stadium despite finishing fifth in the Premier League.
The Gunners will be without Champions League action next season, Wenger has been given a £150million transfer kitty to help strengthen the team ahead of next season.
The Sun suggest Arsenal are prepared to hand England international Alex Oxlade-Chamberlain a new £100,000-a-week contract in a bid to keep him away from Liverpool.
His representatives had been surprised the club had left it so late to start negotiations over a new deal.
However, in December his team were left puzzled when Wenger claimed negotiations had begun over a new contract, and they claimed they had not.
The England international has been spotted with his girlfriend.