Manchester City are now favourites to sign Arsenal striker

Sanchez currently has just one year left on his Arsenal contract and had grown increasingly frustrated with their lack of proper challenge for major titles.

ALSO READ: Arsenal manager believes Sanchez will remain at the club

With Arsenal’s chances of making the Champions League next season diminishing, Manchester City are ready to make an offer for the 28-year-old.

According to Daily Mail, City manager Pep Guardiola wants to sign the player whom he worked with at Barcelona.

Sanchez himself is interested in reuniting with his former manager.

Although Arsenal do not want to lose their star man to a Premier League rival, they also fear that they might lose for him for free in 2018.

With City willing to part with up to £50m for Sanchez, Arsenal would be willing to let go of their man.

Chelsea.

Paris Saint-Germain are also confident that they could land Sanchez with an offer of about £300, 000 per week wage.