Goal report that the two clubs are in talks over a January move for the Chilean forward, with the Gunners asking for £35m to get a deal done before the end of the transfer window - a massive amount for a player with just a few months left on his current contract in north London.
City are hoping to get a deal done for a figure closer to £25m, with concerns that Arsenal will keep their demands unreasonably high until the final days of the window in the hopes of squeezing an extra couple of games out of the 29-year-old before he is sold.
A knee ligament injury to Gabriel Jesus has reduced City's attacking options somewhat over the next couple of months - although they remain outrageously stacked across the board - and Alexis' availability to be registered for both the FA Cup and Champions League stands as a major bonus for City as they look to balance their challenges across four competitions.
Arsene Wenger has hinted recently that the Gunners could let Sanchez go if they can identify a replacement and if they feel that there is no chance of tying him down in the long-term, saying:
“Of course it depends a little bit on the injuries as well and on the other hand I must say it depends on if we manage to extend the contracts of the players who are on the end of their contracts in June."