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Manchester City are willing to pay Alexis Sanchez £320.000 a week in order to tempt him from Arsenal.
The former Barcelona man has seen a potential move to Bayern Munich be scuppered recently.
The Chilean international is not getting on well with the Emirates side, and only has a year left on his deal with the North London side.
Agent Fernando Felicevich has been in regular contact with City, while Arsenal legend Alan Smith should get rid of the 28-year-old.
“Alexis Sanchez is a big shadow hanging over the Emirates,” Smith told British sources (via the Mirror).
“Arsene Wenger says he is determined not to sell him, but he seems determined to leave.
“If you’ve got an unhappy player, a bit like Coutinho at Liverpool, that’s not a great situation to have in the dressing room.
“For me, it’s a no-brainer: you’ve got to let him go, get the money and move on.”