Sanchez's contract at Arsenal expires next summer.
The Chile international has been in stunning form for the Gunners, scoring 22 goals across all competitions.
Arsene Wenger is determined to keep his star asset but, as of yet, no agreement over a renewal has been reached.
Arsenal star Alexis Sanchez could leave this summer
Top five Arsenal signings to replace Alexis Sanchez
Thu, April 6, 2017
Express Sport brings you the five star players who are tipped to replace Arsenal wantaway Alexis Sanchez. Odds provided by BetStars
1 of 5
Marco Reus – 8/1
Paris Saint-Germain, Inter Milan and Juventus have all been backed to make a move for him at the end of the season.
As have Manchester United, with the winger reportedly the subject of phone calls from Jose Mourinho.
However, the Daily Mail claim Sanchez would snub PSG in order to move to fierce rivals Chelsea.
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It is claimed that, despite being courted by the Ligue 1 giants, he wants to stay in the Premier League.
Eden Hazard could leave Chelsea with Alexis Sanchez replacing him
The Blues have emerged as a potential destination for the forward with Antonio Conte an admirer.
Chelsea will be back in the Champions League and Conte wants a marquee name to ensure they challenge for Europe's biggest prize.
Sanchez could even be a replacement for Eden Hazard, who is being linked with a move to Real Madrid.