Sanchez, 28, has less than 12 months left on his current contract at Arsenal and is yet to sign a new deal.

The Chile international has already rejected a £300,000-a-week offer from the Gunners to extend his stay as he wants £400,000-a-week.

He was on the verge of joining Manchester City on transfer deadline day after the north London club accepted a bid totalling £60million.

However, his move was blocked at the last minute after Arsenal failed to get a deal over the line for Monaco winger Thomas Lemar.