Speaking to the Daily Star, Ray Parlour said: "A lot of clubs will be very interested in Bukayo Saka because he's been playing so well. I think Arsenal are trying to do a deal at the moment and hopefully they can get him signed up
"In fact, there's a few players who need signing up. But Emile Smith Rowe has just signed [a new deal] and I hope Saka looks at it and thinks: 'We are building something, we can be successful and I want to be a part of that.'
"If he doesn't sign there will be lots of clubs interested because he's such a good little player. The best teams will always be interested in the best players. But when you start to become successful as a team why would he want to leave?
"We've all seen what he's done for England at this World Cup. He's not fazed by the big occasions, and he's been brilliant since he first broke through into the Arsenal team. Mikel Arteta obviously has a role for Saka on that right-hand side."
Saka's contract at Arsenal expires at the end of the 2022/23 season and the Gunners have been talking to the player's representatives for months now.
The talks are believed to be progressing smoothly and it's only a matter of time before the 21-year-old commits his long-term future to his boyhood club.
