Arsenal hero: My thoughts on Alexis Sanchez and Mesut Ozil's contract talks Five things learned from Arsenal's defeat to Manchester City

RAY PARLOUR admits Alexis Sanchez and Mesut Ozil hold all the aces in their contract stand-off with Arsenal.

Negotiations over new deals for Alexis Sanchez and Mesut Ozil are currently ongoing.

Both Arsenal stars are thought to be demanding bumper pay rises, believed to be in excess of £200,000 a week.

Sanchez and Ozil have been indispensable for the Gunners this season, however Arsene Wenger will be desperate for a response from his side after two Premier League defeats on the spin.

Mesut Ozil and Alexis Sanchez celebrate against West Ham GETTY

Mesut Ozil and Alexis Sanchez are yet to sign new deals with Arsenal

talkSPORT pundit Ray ParlourLADBROKES

Ray Parlour isn't too worried about Alexis Sanchez and Mesut Ozil's futures

Five things learned from Arsenal's defeat to Manchester City

Sun, December 18, 2016

Express Sport brings you five things learned from Arsenal's defeat to Manchester City

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But when quizzed about the chances of tying the club's main assets down to new deals, Parlour said: "I don't know what fees they are talking about.

"At the moment they are in a great position - they have all the cards and hold all the aces.

"Their representatives are doing what they can - they are trying to get as much money as they can for their clients.

"They probably love playing for Arsenal, but it still is just another club for them."

Arsene Wenger during ArsenalGETTY

Arsene Wenger's side have lost two league games on the spin

While acknowledging the importance of Sanchez and Ozil's contributions, Parlour accepts Arsenal are still a couple players short of mounting a serious title challenge.

He added: "It is important they get Ozil and Sanchez done - it would be a statement if they can sign them on long-term contracts.

"They will do the best they can, but they are couple of players short. If they don't win it this season, they can challenge next season."

Arsenal are next up in action against West Brom on Boxing Day (3pm).

Watch Ray Parlour take on the Ladbrokes Festive Feast at www.news.Ladbrokes.com and @Ladbrokes