Arsenal Transfer News: Latest on Alexis Sanchez and Mesut Ozil Exit Rumours

Arsenal chairman Sir Chips Keswick has insisted the club need to take "caution" before sanctioning lucrative contract extensions amid speculation over the future of Alexis Sanchez and Mesut Ozil.

The pair have been the Gunners' star performers this season, but at the end of the campaign, they will each only have a season remaining on their current deals. Speaking about the prospect of handing out extensions, Keswick suggested the club will be considered in their approach, per Jack Rathborn of the Daily Mirror:

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We have continued to invest in the region of key players. Francis Coquelin, Hector Bellerin, Laurent Koscielny and Olivier Giroud have all signed new contracts, while we have taken up options to extend the contracts of Per Mertesacker and Santi Cazorla.

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The chairman went on: "Further work is required in the area of contract renewals and we will continue to invest rationally in our squad retention. As expected, increased Premier League broadcasting revenues have had a direct impact on player costs both in terms of transfer prices and player wage demands.

"While these are market forces that have contributed directly over time to the success of the Premier League, I would sound a note of caution in light of the very material contractual commitments to future wages that clubs are taking on."

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There have been rumblings over the future of the dynamic duo throughout the season and in particular the Chilean forward. According to John Cross of the Daily Mirror, Sanchez has his "mind made up" about a summer exit, with Ozil the more likely to stick around.

Losing either player would be a huge blow to Arsenal, as they each bring something unique to the Gunners' attacking forays. Sanchez, in particular, has dazzled in 2016-17, taking hold of matches and looking to drive his team forward; these numbers from Squawka Football sum up just how crucial he is:

Indeed, Sanchez has evolved into a centre-forward this season and has allowed Arsenal to operate in different styles with him leading the line. The No. 7 presses high up the pitch, relentlessly runs the channels and constantly hassles defenders.

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They are traits that, early in the campaign in particular, have helped bring the best out of Ozil. The German playmaker thrived with a mobile presence ahead of him, picking passes and bursting into the box to score goals himself.

However, Ozil has been criticised for not showing up for the Gunners in the biggest games of the season, turning in particularly disappointing displays in losses to Chelsea in the Premier League and Bayern Munich in the UEFA Champions League lately.

The player's agent, Dr. Erkut Sogut, has insisted that criticism of the playmaker isn't fair, though, per Eurosport:

Although all supporters understand the need to be rational in handing out new contracts, those tied to the Gunners will want to see Arsenal make a statement by keeping the pair. Replacing the vibrancy and dynamism of Sanchez and the ingenuity of Ozil would be an almost impossible ask for the club's recruitment team.

If Arsenal are to progress and become a side who can sustain regular challenges for top honours, they need to be building their team around these two world-class operators. It's why Keswick's words will come as a concern to those fans desperate to see the club win the Premier League for the first time since 2004.