Arsenal are reportedly ready to allow Alexis Sanchez to leave during the January transfer window after deciding that they do not want to lose the forward on free transfer in the summer.
Manchester City are leading the chase for the Gunners forward, but Paris Saint-Germain are also monitoring the situation and could make a move before the end of the month.
Arsene Wenger made it clear that Sanchez along with fellow contract rebel will remain with the club until the end of the season, when they can leave on a free transfer following the expiry of their contracts. But it is now believed that the French coach could change his stance and sanction the Chilean's sale.
According to the Mirror, the north London club are said to have placed a £25m price tag on Sanchez and will sanction the sale if interested clubs meet their valuation. Pep Guardiola remains keen to sign the Chile international, but was hoping to do so on a free transfer in the summer.
However, the report claims that striker Gabriel Jesus' recent injury, which will keep him out for at least two months could prepone the move to this transfer window. Wenger recently revealed that Arsenal will strengthen if the right player is available, and it is believed that he will sanction Sanchez's sale if the club can secure a replacement of similar quality.
The 28-year-old has failed to recapture his form from last season during the first-half of the current campaign, but remains a major target for the Premier League title favourites. Another draw for the teams is that Sanchez can play in the Champions League owing to Arsenal's absence from Europe's elite club competition.
According to Spanish publication Marca, Sanchez is close to joining City after they expedited a move for the Chilean forward after Jesus' injury. The report suggests that the striker and the Etihad Stadium outfit have already reached an agreement with regards to personal terms, which has dissuaded other interested clubs from approaching Arsenal.
Liverpool have also been urged to make a move for Sanchez by former Reds forward John Aldridge, who feels the Chilean will be a good replacement for Philippe Coutinho. The Brazilian midfielder looks to be on the verge of completing his move to Barcelona.