Alexis Sanchez and Dani Alves
Alexis Sanchez and Dani Alves were on opposing sides on Tuesday night as Chile were beaten 3-0 by BrazilNELSON ALMEIDA/AFP/Getty Images

Dani Alves has labelled a potential switch to Paris Saint-Germain as a "possibility" for Arsenal contract rebel Alexis Sanchez, but concedes that there remains plenty of interest in his former Barcelona teammate's signature.

PSG were known to be pursuing Sanchez during the recent summer transfer window, only to seemingly drop their interest following the world-record capture of Neymar. They later raided Ligue 1 champions AS Monaco for teenage sensation Kylian Mbappe, who moved to the Parc des Princes on an initial season-long loan deal that should be made permanent next summer at a cost of €180m (£161.6m, $213.2m).

However, the wealthy Parisians are now said to be once again vying with Manchester City for the signing of Arsenal's most influential player, with Le Parisien reporting last week that they will revive their pursuit next summer when Sanchez, providing he is not offloaded in January or convinced to pen fresh terms, will be available on a free transfer.

It is suggested that they will look to sell Edinson Cavani for around €80m to make room for Sanchez in a devastating three-pronged attack as they seek to balance the books following a window of unprecedented spending that led to Uefa launching an official Financial Fair Play (FFP) investigation.

A move to PSG would see Sanchez reunite with both Alves and Neymar, two players he played alongside at Barcelona before leaving for Arsenal in a £35m deal in 2014.

Alves and Sanchez were on opposite sides in Sao Paulo on Tuesday night (10 October) as a 3-0 win for already-qualified Brazil over Chile – plus a late equaliser from Peru's Paolo Guerrero against Colombia – saw the reigning Copa America champions miss out on qualification for their third successive World Cup.

Speaking to reporters after that final Conmebol qualifier at Allianz Parque, Alves admitted he would like to see his friend join him in the French capital.

"It's a possibility but there are several teams that want him," he told Chilean radio station ADN. "I want him to be happy wherever he goes, but if it's with us, it's better."

Manchester City are still widely considered as the overwhelming favourites to sign Sanchez, who is apparently keen to reunite with former Blaugrana boss Pep Guardiola at the Etihad Stadium. It appeared as if they were finally set to land their chief target on deadline day, only for a proposed £60m transfer to collapse after Arsenal failed to tie up an 11th hour deal for Monaco's Thomas Lemar.

The Telegraph reported this week that City will make another bid for Sanchez in January – one likely to be worth considerably less than the offer made in late August – and are increasingly confident of bringing the long-running saga to a close.