The Daily Mail's Sami Mokbel reported the Gunners submitted the new offer after Sanchez previously rejected terms worth £225,000 per week, a figure that could have increased to £275,000 per week including bonuses. "(PSG) are looking for (Kylian) Mbappe, that's what I read in the papers.
They defeated Chelsea again when the teams renewed acquaintances at Wembley in last Sunday's Community Shield, winning a penalty shootout 4-1 after a 1-1 draw.
The Chilean global suffered the injury in training on Sunday morning and will now miss our first two games against Leicester and Stoke while he could also be a doubt to face Liverpool at the end of the month.
Arsenal's first five Premier League fixtures are against Leicester, Stoke, Liverpool, Bournemouth and Chelsea. I don't know how long he will be out - two weeks, maybe one more week. Some players rush into deals because they think they have to go to avoid getting found out.
However most Arsenal fans aren't buying the all-too convenient news.
"Arsenal fans want him to stay", the former Arsenal forward said.
"I keep the faith and I still believe I can have an important part to play this season in the club".
"Alexis will not be available".
Some may disagree with that sentiment and feel Arsenal could do with the addition of the 2015-16 PFA Players' Player of the Year, who has stood out as one of the Foxes' elite stars in recent years.
Alexis Sanchez put the cat amongst the pigeons on Sunday - by sending out a tweet which revealed his location to be Paris.
"You've got the season ahead to look forward to and everyone's raring to go", said captain Wes Morgan.
That Wenger is not going into the new campaign with the fans still at his throat owes much to Arsenal's strong finish to last season.