Arsenal stars Mesut Ozil and Alexis Sanchez are reportedly demanding significant pay rises following the UK's decision to leave the European Union.

Both attackers are out of contract at the end of next season and have already begun talks with the Gunners over extending their deals until summer 2020.

According to The Times, however, the outcome of the Brexit vote will be a major factor in agreeing new terms after the value of the pound against the euro fell almost 20% since the decision was reached in June.

Ozil, 27, is Arsenal's highest earner with a weekly salary of £140,000, while Sanchez, 27, takes home £130,000 a week.

Both players are thought to be demanding £250,000 a week in their new deals, which is around £70,000 more than they had asked for when initial talks began a year ago.

Arsenal are also in talks over a new contract for midfielder Santi Cazorla, whose current deal expires at the end of this season.