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The Bavarian giants have been strongly linked with the Chile international of late, with his fellow countryman Arturo Vidal admitting he’s contacted Sanchez to persuade him to join him at the Allianz Arena.
Sanchez has been a key player for Arsenal since his arrival from Barcelona in 2014, scoring in two FA Cup final victories in his three seasons in north London.
It would be a huge blow for the Gunners to lose him after arguably his best season yet, but the Daily Mirror claim Bayern are confident of getting a ‘huge’ deal over the line ahead of other top clubs.
The 28-year-old is also a target for Premier League rivals Chelsea and Manchester City, but Arsenal have apparently made it clear that they will not do business with another English side.
This looks to put Bayern in pole position for Sanchez, who had also been linked with Paris Saint-Germain prior to recent rumours that they were closing in on Pierre-Emerick Aubameyang instead.
Arsene Wenger, however, has issued a latest update insisting that he will not sell Sanchez or team-mate Mesut Ozil this summer despite their contract situations, as he would rather let them leave for free when their deals expire next summer.