Sanchez will have one year left on his Arsenal contract in the summer and several clubs are looking to sign the Chilean, who has cut a frustrated figure in recent months.
Arsenal are reluctant to let Sanchez leave, especially to a club in the Premier League.
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Express Sport understands Arsenal will not accept Sanchez’s near-£400,000-a-week contract demands and that if a solution is not found he will be sold to a club abroad.
Chelsea, Manchester United and City are among the domestic clubs interested in Sanchez.
Arsenal forward Alexis Sanchez
And according to TransferMarketWeb, the Etihad side have made their move for the 28-year-old.
They say City made a £55m offer for Sanchez, who would be reunited with his former Barcelona manager Pep Guardiola.
Their approach was snubbed but it is said City have not given up hope and discussions continue.
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