Real Madrid are reportedly plotting a stunning £37.3m swap deal for Arsenal star Alexis Sanchez and it is believed the move for the Chilean could come as early as January should Arsenal fail to make it to the knock out phase of the UEFA Champions League.
According to reports in Spain, Sanchez who has been a revelation for Arsenal since joining from Barcelona for £35m in July 2014 is viewed as a long-term replacement for Cristiano Ronaldo.
And Spanish magazine Don Balon claim Real want to lure Sanchez back to La Liga with a £37.3m bid – and could also offer winger Denis Cheryshev to sweeten the deal.
Arsenal are preparing to reward Sanchez with a new contract that would make him the club’s highest-paid player. The 26-year-old who currently earns £130,000 a week is expected to surpass Mesut Ozil, who is on £140,000 a week.
A new deal for the Chilean would mean Real Madrid will have to pay more than what they are budgeting to stand any chance of tempting Arsenal into any form of negotiations.
After a slow start to the season, the Chilean forward has hit form with six goals in his last three games for the Gunners and has scored three in his last two games for Chile in the 2018 World Cup qualifiers.
Arsenal will be desperate not to lose Sanchez but club legend Ian Wright warned he may look to leave if they crash out of the Champions League.