Chelsea and Arsenal have both submitted contract offers to Hakan Calhanoglu that are lower than the deal on the table from his current side AC Milan, according to reports in Italy.

It was reported earlier this month that the two London clubs were interested in signing the Turkish international on a free transfer when his contract expires in the summer.

Calhanoglu has been stalling on extending his stay with the Rossoneri, after refusing the €4m a season proposal. It has led to speculation that he will leave the San Siro despite being a key player in the Serie A club’s revival this season.

The 27-year-old has scored seven goals and provided 11 assists in 36 appearances, helping Milan to second; nine points behind rivals Inter at the top of the table.

It is believed that Juventus may well be the club that could win the race for Calhanoglu but, so far, it seems no club has been prepared to match the player’s wage demands.