Pep Guardiola has sparked speculation that Manchester City could make a move for Alexis Sanchez after refusing to rule out a summer bid for the Arsenal star.

The Chilean is out of contract at the end of next season and has yet to sign a new deal at the Emirates, prompting suggestions that the player could be set to leave the club within the coming months.

Sanchez has publicly spoken of his desire to play Champions League football and with Arsenal’s hopes of a top-four finish quickly fading, the player has seemingly grown increasingly unsettled at the club.

The forward has been subsequently linked to London rivals Chelsea and Manchester City.

When asked about the reports, Guardiola replied: “Now is not the time to talk about that.

"Players who might stay here, [new] players for the next season, it is not time, we have a lot of business to do.”

Since arriving in the Premier League in 2014, Sanchez has scored 47 goals in just 94 appearances for the Gunners and has established himself as one of the side’s stand-out players across the past three years.

Sanchez has grown increasingly unsettled at Arsenal (Getty)