Arsenal have reportedly kicked off talks over a new five-year deal worth upwards of £160,000-per-week.
Bayern Munich after Arsenal forward
Sanchez is entering the last two years of his contract this summer and Bayern Munich are looking to snap him.
Munich however have started making enquires on the forward who is hugely admired by Carlo Ancelotti who steps in as coach from next season.
With Frank Ribery and Arjen Robben over 30, Munich are looking at the Chile international.
Munich are hoping that Arsenal’s lack of title winning potentials will make the 27-year-old consider joining the Bundesliga leaders.
The Chilean might also be keen to join his international teammate Arturo Vidal who plays for Bayern Munich.
Arsenal manager, Arsene Wenger is however hopeful that his forward will sign the new contract that has been offered by the club.
Sanchez joined Arsenal from Barcelona in 2014 and have won the Community Shield and the FA Cup.