Arsenal boss, Arsene Wenger believes that it is ridiculous to offer Alexis Sanchez £300,000-per-week new contract to stay at the London club.The Chilean has less than 18months in his currently deal but has refused to pen a new improved contract as Chelsea and Manchester City queue up for a summer bid for the former Barcelona star.Read Also | 'I quit Chile for Chelsea job but Conte beat me to it'Reports filtered in yesterday that the Gunner are willing to pay a massive £300,000-per-week to Sanchez to keep him away from the gaze of suitors but Wenger has now poured cold waters on that rumour."I cannot confirm that we have offered that," he told a news conference. "We have to consider our financial potential to sustain the wages of the whole squad."What is for sure is that what is paid per week today is what 20 years ago was paid per year. It’s a little funny and ridiculous if you ask me. "Sanchez is one of the six nominees for the PFA Player of the Year award, having scored 18 goals and 10 assists in the current Premier League this season.