I have seen on the news that Arsenal have offered Saka two times his current salary to extend his contract. They are targeting to fend off the interest by Manchester City. Saka is one of the most talented players in Arsenal squad now and they wouldn't like to lose him while they are making an effort to strengthen the squad. Manchester City already have really good wingers aside from that. Therefore I wonder why they are going for another good winger.
Its good to protect your own, Arsenal is not just after making profits like clubs like Dortmund and Ajax. Saka is a very important player for the gunners and it is very wise to tie him down with a contract extension for the future and to fend off big money spenders who are interested in getting the young star to join their club. Saka is part of Arteta's plan for the season