Alexis Sanchez to get HUGE pay hike and stay at Arsenal?

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Arsenal have put the kibosh on Manchester City's audacious attempt to lure Alexis Sanchez to the Etihad, reports the Daily Mirror.

Arsenal must meet whatever contract demands Alexis Sanchez makes, even if he wants £300,000-a-week in a deal that would smash the club's wage structure, according to Ray Parlour.

Pep Guardiola has made it clear that he believes his squad's biggest weakness is their lack of goals.

The 28-year-old scored a stunning 43 goals across all competitions for Bayern this term and has scored more braces than single goals in the Bundesliga.

Manchester City and Chelsea are both interested, but Kicker report Bayern are determined to win the battle for the Chile international's signature.

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To be fair, Sanchez leaving Arsenal for the Sky Blues would result in a major backlash from the Gunners' supporters.

"If Sanchez wants to go to Bayern fine, as long as we get Lewandowski", said Wright.

With the former Barcelona man having only a year left to run on his current deal, Arsenal have little option but to sell him now or lose him for free at the end of next season.

The forward is with the Chile squad ahead of Tuesday's away friendly against Romania, their last warm-up match for the Confederations Cup in Russian Federation. Although Wenger claimed during the English Premier League, Chile striker will remain in Arsenal. He was one of the heroes of winning the FA Cup against Chelsea.

Sanchez has enjoyed another fine campaign at the Emirates despite his side's failure to qualify for the Champions League.