Arsenal are set to meet Chilean forward Alexis Sanchez's wage demands of £200,000 a week, according tothe Daily Mail.
Sanchez has been linked with a move to the Chinese Super League where his wages could potentially be doubled.
Arsenal have reportedly offered their top scoreraround £180,000 a week, but negotiations stalled.
But the club are determined to keep the former Barcelona man, hoping that the combination of living in London and playing in the Premier League is enough to persuade him to reject any lucrative offers from China.
If Sanchez was to accept Arsenal's offer, he would still be earning an estimated £10m a year, although his performances this year are likely to persuade the Gunners to break the bank.
Manager Arsene Wenger has been particularly complimentary of the 27-year-old, who he has successfully utilised as a lone striker this season.
"He is comparable to Suarez a bit in style," said Wenger. "From the players I have had, there are no real comparisons. Thierry Henry was a real athlete, naturally you saw this guy was a strong man.
"Sanchez surprises you a little bit because of his size - you do not expect such a dynamic, strong winning attitude. It's his game. He is a leader in his way on the football pitch, because he is not scared of anybody. That's a kind of leadership."
Sanchez has scored 12 goals in the Premier League so far this campaign, one less than topscorer Diego Costa.