Arsene Wenger is adamant failing to qualify for the Champions League will not have a negative impact on Arsenal's ability to negotiate new deals with their best players or sign high-profile names.

Arsenal are set to resume contract talks with Mesut Ozil and Alexis Sanchez at the end of the season, with discussions put on hold earlier this year in order to focus on the race for a top-four finish.

The Gunners lie sixth, six points adrift of fourth-placed Manchester City with a game in hand.

Arsenal were previously in a position where Champions League income played a big role in their financial situation but Wenger has made it clear that is no longer the case.

"Not really because we are in a strong financial position," the Frenchman said at a news conference when asked if the potential lack of Champions League football could hurt them when it comes to contract talks and transfers.

"The weight of a Champions League place is less big than it was years ago.

"Financially, negotiations wise it will not have a huge impact.

"Maybe it can impact your reputation if in a longer spell you are not in there. But at the moment we are not in that mode.

"Still for us it is important because we want to play at the top level."