Manchester City are hoping to sign Alexis Sanchez from Arsenal this month.

According to Guardian, the Premier League leaders have already submitted a bid in the region of £20m for the Chilean.

Sanchez is out of contract in the summer and therefore Arsenal might look to accept a low fee now. The Gunners cannot afford to lose him on a free transfer.

The report from Guardian claims that Sanchez has already agreed on personal terms with Manchester City. The 29-year-old is set to earn around £250,000 a week at Etihad.

The Premier League giants were close to signing Sanchez in the summer as well. They had agreed on a deal worth £55m plus £5m in add-ons but the move collapsed because of Arsenal’s failure to sign Lemar.

If the transfer goes through in January, it would be a huge boost to City’s ambitions. Guardiola will be without Gabriel Jesus for eight weeks because of a medial collateral ligament injury and Sanchez would be the ideal replacement.

Manchester City hope to challenge on all fronts and having players like Sanchez would only help their cause.