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Mesut Ozil and Alexis Sanchez Arsenal contract talks in May - Arsene Wenger

Arsenal manager Arsene Wenger expects the club to "deal" with Mesut Ozil and Alexis Sanchez's contracts in May.

This week, playmaker Ozil said he is "very happy" at the Emirates, but is in no rush to renew his current deal.

Germany international Ozil and Chile star Sanchez's terms with the Gunners expire in 2018.

Wenger said of the pair: "We'll deal with that later in the season. We focus on the present, we deal with that at the end of May."

The French coach was speaking ahead of the Boxing Day trip to Southampton, confirming that Sanchez will not be returning from injury for the match.

He said: "We have nobody back for this game. It will be the same players."

Wenger was also asked about Pep Guardiola, who is to leave Bayern Munich at the end of the season and has been linked with both Manchester City and United.

He said: "I think personally I don't like that managers come out so early -- it's not so good for their own team or for others who are going through a difficult patch.

"We want this league to be the best, but also the right balance. You need 40-50 percent foreign managers, but also local, like Eddie Howe -- you do not want to kill that.

"It's important to have the balance right because they bring different ideas.

"He's a top quality manager, no one would dispute that. Not for what he's won... Bayern won before, Barcelona still wins together.

"I think of his positive attitude, that he wants his side's to play in a positive way."