Arsenal are still keen on acquiring the services of Manchester City winger Raheem Sterling - following a failed attempt during the summer transfer window.
Manchester City were keen on a swap deal for Gunners' forward Alexis Sanchez and it was reported that Sterling was open to the idea of moving back to London. Now, according to the Daily Mail, Arsenal will return to City in January to inquire over a possible move for the former Liverpool man.
Guardiola made Sanchez his primary target during the summer but would have preferred to pay straight cash for the Chilean rather than present Sterling as a swap deal.
The City boss is adamant that Sterling still has a big part to play for the club moving forward but Sterling was reportedly excited at the prospect of moving to Arsenal to secure more time on the pitch.
City will return to Arsenal in January and bid around £20m for Alexis Sanchez - whose contract is set to expire at the end of this season. If Arsenal refuse to sell, he could leave on a free during next year's summer transfer window.
Arsenal's transfer negotiator Dick Law is set to step down from his position at the club after eight years working alongside Arsene Wenger. Both have faced criticism recently following a poor transfer window which left most Gunners' fans disappointed at the lack of signings - despite their record transfer of Alexandre Lacazette from Lyon.