According to Chilean newspaper El Mercurio, the 29-year-old is edging closer towards sealing a switch to Old Trafford. The Red Devils will offer Henrikh Mkhitaryan as a part of the deal that would see United sign the forward.
Sanchez's contract at Arsenal will run down after the end of the 2017/18 season. He came close to joining United's local rivals, Manchester City, in the last summer transfer window. However, the deal did not take shape after the Gunners failed to sign a replacement.
He continued with Wenger's side and was expected to join Pep Guardiola's side, either in January or as a free agent after the end of the season. The inclusion of the Armenian international in a potential player-plus-cash deal has tempted the north London club to allow Sanchez to leave the Emirates this month.
City were willing to pay only £20m ($28m) to Arsenal in bringing the former Barcelona man to the Etihad. United are ready to pay £5m more than Guardiola's side for Sanchez and also include Mkhitaryan as a part of the deal. In addition to this, they are also willing to offer him an improved personal terms than their neighbours.
El Mercurio claims United's offer of £350,000-a-week is tempting for Sanchez. The financial demands, both from the player and Arsenal, are something City are unwilling to meet. This has convinced them to end their interest, even if it could mean they could see the forward join the 20-time champions of England.
Another report from the same publication via Manchester Evening News suggests that United are ready to hand the Chilean international the iconic No.7 shirt. Arsenal manager Arsene Wenger has already admitted on 14 January that Sanchez's future should be resolved in the next "48 hours."
United registered a 3-0 win over Stoke City and Mkhitaryan was dropped from the squad. In his pre-match interview, Mourinho confirmed the former Borussia Dortmund man was dropped because the player's future at Old Trafford remains uncertain.
A third report from El Mercurio suggests Mourinho's comments on Mkhitaryan indicate that Sanchez is all but set to join United over City in the ongoing transfer window. If one has to go by Wenger's comments on Sunday, the South American forward could complete his switch to Old Trafford on Tuesday (16 January).
Meanwhile, Sky Sports claim that Sanchez could end up earning £18m-a-year and his agent could pocket £5m from the deal that will see his client join United. Should he complete his switch to Old Trafford, the attacker will be the Red Devils' first signing of the January transfer window.