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According to reports, Real Madrid are desperate in signing Alexis Sanchez in the January transfer window.
Sanchez, 28, can leave north London on a free transfer next summer or for a cut-price fee in January.
Manchester City made a £60m bid for the Chile international in the summer but Arsenal couldn’t land a replacement in time and the deal fell through.
Pep Guardiola is expected to return for Sanchez at the end of the season to bolster his already strong attacking ranks.
However, according to Spanish transfer outlet Don Balon, Sanchez could be heading to Real Madrid.
They claim the former Barcelona forward is closing in on a move to the Bernabeu.
Don Balon add that Zinedine Zidane wants to sell Real ace Lucas Vazquez to make room for Sanchez.
Sanchez and Arsenal are back in action on Thursday night when Arsene Wenger’s men host BATE Borisov in their final Europa League group stage clash.