Manchester City have had a bid of £50m for Arsenal and Chile forward Alexis Sanchez turned down by the North London side.
That is according to the BBC, who are reporting that the Etihad side have moved for the attacking star who is in his last year contract.
Sanchez has rejected numerous contracts from Arsenal and has made it clear that he wants to leave. However, Gunners boss Arsene Wenger does not want to let him go this summer, and it is believed that he would rather lose him for free next year.
If Wenger is to sanction a sale, though, it would have to be a player-plus-cash deal, as he would want an immediate replacement for the Chilean.
The Frenchman is thought to be keen on seeing Sergio Aguero go the other way, but City do not want to involve their striker in the deal.
Sanchez is reportedly keen on working with former boss Pep Guardiola at City, however Arsenal look to have all the cards and may very well keep him around til his contract is up.