Arsenal manager Arsene Wenger has rejected reports that Alexis Sanchez and Mesut Ozil are on the verge of signing new contracts at the Emirates.

Reports have recently emerged claiming that the duo, who have been in fine form this season, have agreed to extend their contracts with the North London club.

However, Wenger has revealed that the club have not opened talks with the pair as they still have two-and-a-half years left on their contracts.

"We have not started to talk about that with Mesut Ozil," Wenger told reporters. "[Sanchez] is the same situation. At the end of the year they have two-and-a-half years' contract.

"We have some time. We are not in a hurry. We want of course for them to stay in the club, and we'll start negotiations at some stage, but at the moment we have not started."

Ozil joined the club from Real Madrid in 2013, while Sanchez moved from Barcelona to London last year.