Alexis Sanchez agrees personal terms with Manchester City

Arsenal Alexis Sanchez Alex Oxlade-Chamberlain

According to Paul Brown and David Woods of the Daily Star, neither Sanchez nor Alex Oxlade-Chamberlain will be permitted to leave the club for a direct rival-despite the fact both players have entered the final years of their contracts.

Former Liverpool midfielder Danny Murphy thinks that Arsenal should stump up £400,000-a-week wages to keep Alexis Sanchez at the club.

Arsene Wenger understandably does not want to sell his best player to a rival.

Pep Guardiola has made signing the 28-year-old one of his priorities for the summer and Friday's edition of El Mercurcio claims that a £47 million offer has been made to Arsenal.

Furthermore, with the Gunners finished outside the Top 4, they will play in the Europa League next season - a prospect that is reportedly pushing Sanchez close to a summer exit.

However, Murphy believes that Arsenal should bow to the player's demands as another forward of Sanchez's quality is likely to cost the club a similar amount - if they are even able to lure them to the Emirates Stadium without Champions League football.

"Alexis spoke to his teammates in Russian Federation about the subject, he has spoken with his family as well".

"Alexis isn't willing to (sign a new contract), for any reason".

Negotiations have hit the "buffers" after Alexis Sanchez apparently rejected Arsenal most recent offer of $355,000 per week, according to the Sun.

After confirming the signing of Sead Kolasinac from Schalke in early June, a month later the north London outfit have announced the club record signing of Lyon's Alexandre Lacazette for a reported £43m plus around £10-15m in add-ons - clearly marking intent from Wenger.