Arsenal manager Arsene Wenger expects Alexis Sanchez's future to be settled in the next "48 hours" amid increasingly speculation linking the Chile international with moves to Manchester United and Liverpool.

The out-of-contract 29-year-old was left out of the Gunners squad which lost at AFC Bournemouth on Sunday [14 January] following months of speculation over his future.

The Mirror understand United are willing to pay Arsenal £30m for the former Barcelona forward, who will be paid a £15m signing on fee and earn £400,000-a-week of the duration of a three-and-a-half year deal.

It would take the total cost of the deal to £122.8m for the Old Trafford club, who have seen Manchester City withdraw their interest in acquiring Sanchez.

Liverpool are also understood to be keen on signing Sanchez, but are unlikely to be able to compete with the financial package United are proposing, despite selling Philippe Coutinho to Barcelona for £142m last week.

Nevertheless, the long-running saga regarding Sanchez's future is set to come to an end this week after Wenger confirmed a decision will be made in the next two days.

"If Sanchez goes, we need to replace him," Wenger said after the 2-1 loss at the Vitality Stadium, according to Sky Sports. "When you look today we missed many players today. If he goes, we have to respond.

"At the moment we try to use players who are completely focused on the club. It could happen today, tomorrow or not at all. I didn't want to travel with him and then he goes somewhere.

"It will be decided in the next 48 hours. It was difficult for him because he was on standby a little bit."

Mourinho has historically been unwilling to make major signings in January windows gone by, and looked set for a quite transfer period again.

However, the two-time European Cup winner admits a "fantastic opportunity" could see United break that trend this winter.

"Our squad was not (built) to have new players in January," he said, according to The Evening Standard.

"We build a squad with this idea, with this philosophy that I share with Mr (Ed) Woodward and the owners. Normally the investment is to be made in the summer. The balance of the squad is made in the summer.

"But sometimes, it (a transfer) can happen. Okay, if on the table is a fantastic opportunity, you fight for that fantastic opportunity. If it happens, it happens. If it doesn't happen, it doesn't happen. But I like my squad and I like my players.

Alexis Sanchez
Sanchez looks set to complete his move away from Arsenal this week. Getty Images