Linked to other Champions league-qualifying sides such as EPL champion Chelsea and Bundesliga powerhouse, Bayern Munich, Arsenal can not afford to surrender another top-flight player to another team without getting nothing in return.
His current contract expires next summer and Arsenal will need to sell this summer if they want to command any sort of fee for their talisman.
However, much-respected Chilean journalist Fernando Solabarrieta has dropped the bombshell that he is about to join City.
Sanchez is now on worldwide duty as he and his side prepare for the Confederations Cup.
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On Thursday, Iran's Foreign Minister Mohammad Javad Zarif criticized the language and rejected the condolences on Twitter .
Sanchez came on as a substitute in the 1-1, and with his first touch swung in a cross for Mauricio Isla to score the opener.
Sanchez, who scored 30 times for Arsenal this season, would become Pep Guardiola's third summer signing should he a seal a switch to the Etihad.
It is the thought that the Chilean he is keen to leave the Emirates after Arsenal failed to qualify for the Champions League next season.
Arsenal did triumph in the FA Cup final last month, but it may not be enough for them to keep Sanchez at the Emirates.
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