According to reports in The Sun, Manchester City are unlikely to bid more than £20m for Arsenal forward during the January transfer window after a £60m move fell through on transfer deadline day.
What’s the word, then?
Well, City thought they had got their man when they agreed a fee with the Gunners last Thursday, but the north London outfit pulled the plug on the deal when they failed to bring Monaco’s Thomas Lemar in as a replacement.
Sanchez is now in the final 12 months of his Arsenal contract after refusing to commit his future to the club, and it seems almost certain that he will depart either in January or next summer.
Despite failing to sign the Chilean last month, The Sun says that the Citizens remain confident that the 28-year-old will be reunited with Pep Guardiola in the next 12 months, even though Sanchez will be able to negotiate with foreign clubs in the New Year.
However, the report adds that they are not willing to pay over the odds for a player that would be available for nothing next summer, especially as Guardiola currently has a plethora of attacking options to choose from.
What happens next?
Sanchez made his first appearance of the season in the 4-0 defeat against Liverpool last month and his mood certainly hasn’t improved on his return to action for Chile during the international break.
The South Americans lost back-to-back World Cup qualifiers to put their chances of securing their spot in Russia next summer into doubt, and the 28-year-old posted a message on his official Instagram account following the latest 1-0 defeat against Bolivia on Tuesday saying that he is ‘tired’ of the criticism he is receiving when he plays for his country.
Sanchez will now return to north London to meet with Wenger after his move away failed to materialise, and the French manager will be hoping that the attacker is willing to buckle down can rediscover the exceptional form he has shown since he moved to the Emirates.
Could he still have an Arsenal future?
You can never-say-never but it looks highly unlikely that Sanchez will be a Gunners player this time next year, and Arsenal will perhaps look to recoup as much money as they can for him in January rather than risk losing him for free next summer.