The 28-year-old's future at the Emirates remains hugely uncertain amid his ongoing contract saga.
The Gunners are yet to tie their star forward down long-term, with only 12 months remaining on Sanchez's current deal.
Arsene Wenger has insisted he remains confident of holding on to both the Chile international and Mesut Ozil at Arsenal.
However, a host of top European clubs, including direct rivals in England, are pursuing Sanchez.
Chelsea, Manchester City, Paris Saint-Germain and Juventus have all been credited with interest.
Bayern Munich are in pole position to land Arsenal star Alexis Sanchez this summer
Bayern are said to be sorting the fine details over a deal for Sanchez
But it is Bundesliga champions Bayern who appear firm favourites to secure his signature should Sanchez's Arsenal career end.
And according to TransferMarketWeb, a switch to Germany is getting more and more likely for the ex-Barcelona star.
Bayern are said to be sorting the fine details over a deal for Sanchez.
And he would apparently earn just under £7.5million a year at the Allianz Arena.
Arsenal have tabled improved terms to Sanchez in their efforts to keep him – even reportedly going as high as offering £300,000 a week.
Top five Arsenal signings to replace Alexis Sanchez Thu, April 6, 2017
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However, TransferMarketWeb claim the Gunners goalscorer is set to take less than half of that at Bayern as he would be on over £140,000 a week.
Another factor that is edging Sanchez to the German giants is the prospect of linking up with Carlo Ancelotti.
Working with the former Chelsea and Real Madrid boss is said to excite the Arsenal man.
Wenger is looking to strengthen his forward options with Sanchez potentially leaving, and talks have reportedly been held this week with Lyon over Alexandre Lacazette.