Reports emerged yesterday claiming the Gunners had made a sensational £300,000-a-week offer to their star man.
But Wenger refused to confirm or deny the rumours.
“I cannot confirm we have offered that,” Wenger said.
Arsenal boss Arsene Wenger has refused to confirm rumours of a new contract offer for Alexis Sanchez
“Secondly, we will do as always and consider our financial potential and pay the whole squad.”
Manchester City, Chelsea and Paris Saint-Germain have all been linked with a move for the forward.
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And they are all expected to make bids for the Chilean at the end of the season.
Talks over a new deal between the Chile international and Arsenal were believed to have been shelved until the end of the season.
And the 28-year-old has cut an increasingly frustrated figure at the club in recent weeks – a period that has seen the Gunners lose seven games in 12.
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