Arsenal are reportedly set for a huge boost this week with reports suggested Superstar Alexis Sanchez is ready to sign a new £40million five-year contract at the Emirates.

The former Barcelona man is said to have agreed a new five-year contract with the north Londoners which will see him at the Emirates until 2020.

The 27-year-old has been heavily linked with a move to league arch rivals Manchester United, but the Chilean looks set to commit his long-term future Arsene Wenger’s side.

The striker will now reportedly earn £150,000-a-week, along with lucrative incentives.

Sanchez has established himself as one of the great players at the Emirates since joining from Barcelona on a four-year contract in 2014 for £33m.

Being a part of the FA Cup-winning side, Sanchez is hoping to help the Gunners a title challenge this season.

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Arsenal, Chile, English Premier League