Alexis Sanchez came close to joining Manchester City in the summer only for the deal to collapse when Arsenal failed to land a replacement. Now, the Gunners could risk losing the forward on a free in June if they do not sell him for a cut-price in January.
According to 'The Guardian', the Chile forward is understood to have agreed terms on a contract worth around £250,000 a week, and a £20 million bid has been made by Manchester City to secure a long-standing transfer target.
City have insisted they will not increase the offer if it is rejected by Arsenal, and they are prepared to wait until he becomes a free agent in the summer, with Paris Saint-Germain and Bayern Munich both believed to be keen on signing the 29-year-old.
The Premier League leaders remain frontrunners for the forward and a deal worth £13m a season until 2023 should be enough to persuade Sanchez. January will be a long month for those involved.