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Reports making the round suggest Manchester City are ready to smash Manchester United record which they offered Paul Pogba.
The Metro suggest the Blue side of Manchester are ready to make Alexis Sanchez the highest-paid player in Premier League history by offering him a £400,000-a-week deal, according to reports.
The Chile international is out of contract at the end of the season and will be available on a free transfer.
Sanchez has shown no indication that he will extend his deal with Arsenal, although Arsene Wenger has claimed he would not sell the forward in the upcoming transfer window.
The Daily Mirror reports that City are ready to hold out until the summer to sign Sanchez and are confident of getting him ahead of Paris Saint-Germain.
Reports have claimed that Sanchez’s agent has held fresh talks with the Ligue 1 leaders, but City is the Chilean’s first-choice destination as he would link back up with his former boss Pep Guardiola.
The Mirror report that Sanchez’s offer from City will be made up of a £325,000-a-week base salary, which will be topped up by image rights payments worth £75,000 per week.