Bacary Sagna has ended negotiations with Arsenal regarding a new contract and has told the club he will be leaving in the summer, reports Goal.
Arsenal made their third and final contract offer to Sagna several weeks ago, thought to be worth £80,000-a-week over two years - far less than Sagna was demanding.
The French international wanted a three-year contract worth around £100,000-a-week to stay at the Emirates but was left disappointed by Arsenal's reluctance to reward him for his loyalty.
Sagna has stayed with Arsenal despite seeing similar figures leave for pastures new, turning down more lucrative offers in the process. He believed that Arsene Wenger would thank him for staying with the Gunners through tough times with a big deal.
However, instead he has been let down and has decided to seek a lucrative deal elsewhere, with Chelsea, Manchester City and PSG believed to be leading the race.
Arsenal's Premier League rivals, Chelsea and Manchester City, are both reportedly willing to offer Sagna the deal he is after.
The 31-year-old was hoping to stay in north London where he and his family are settled but will listen to offers from both the Premier League and Europe before making a decision.
Chelsea may become the best option in the long run but Manchester City holds the best opportunities for a player of his age. Manuel Pellegrini is looking for reinforcement at both right-back and centre-back, meaning Sagna will get more chance to play.
That versatility may prove difficult for Wenger to replace. Sagna performed well while filling in for Per Mertesacker at centre-back seamlessly.
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