The 19-year-old still has four years left on his current contract with the Gunners.
But The Sun reports that Arsenal are ready to start talks over a new deal for the youngster later this month.
Wenger has seen the likes of Robin van Persie, Cesc Fabregas and Samir Nasri leave the club in recent seasons and is desperate to keep his best players on long-term deals.
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Chelsea legend Didier Drogba has revealed his top 11 Chelsea career moments during his recent interview on Chelsea TV.
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