The Chilean’s current deal with the Gunners expires in the summer, but he is already free to begin negotiating a pre-contract agreement with teams outside of England.
But according to Spanish newspaper Marca, all approaches from foreign clubs have been rebuffed with suitors told that an agreement is already in place between Sanchez and Pep Guardiola.
After his summer move fell through on deadline day, Sanchez agreed with Guardiola that he would move to the Etihad in the summer on a free transfer.
However, Gabriel Jesus’ injury – which is expected to sidelined the Brazilian for at least six weeks – could now bring City’s move for Sanchez forward.
Guardiola was previously wary of disrupting his side’s balance, but Jesus’ absence leaves City looking short up front, while Sanchez would still be eligible to play in the Champions League.
Arsene Wenger’s stance regarding Sanchez is believed to have softened more recently, too, with a bid upwards of £25 million likely to be enough to land him.
While Wenger would prefer not to sell Sanchez to a domestic rival, there is minimal interest from foreign sides – eve heavily linked clubs like PSG and Bayern Munich – as Sanchez has told them he wants to link up with Guardiola.
Despite the early weeks of Sanchez’s season being hampered by injuries and intentional duty, he has gone on to score seven goals in the Premier League in the 2017/18 campaign so far, second only to Alexandre Lacazette.
More: Arsenal FC