Manchester City have been hot favourites to sign Alexis Sanchez this summer but Arsene Wenger isn’t willing to sell his star player to a Premier League rival.

Pep Guardiola’s Manchester City have already dished out a lucrative offer to lure Alexis Sanchez but it appears that they will have to cough out a lot more if they are to fight through Arsenal’s resolve of NOT selling to a Premier League rival, according to the Mirror.

Should Sanchez take the well trodden route to Manchester from Arsenal, he’ll be the Citizens’ biggest scalp from the Emirates over the past decade where the Gunners have fed a lot of players to Manchester City.

However, this time around Arsene Wenger is firm in his resolve not to strengthen the squad of a Premier League rival at his side’s expense as he prefer’s a move to Bayern Munich for his star player, should an exit be imminent.

Bayern Munich have already offered £40 million in return for the services of the Chilean and are hoping to complete the formalities sealing his transfer to the Allianz Arena. Manchester City though have not only matched that offer, but also offered a bumper contract that will see the 28-year-old pocket a staggering £280,000/week which is a steep increase on his current paycheck of £130,000/week.

Time to end the season on a strong note. (Photo courtesy - Dan Mullan/Getty Images)

Bavaria or Manchester – The choices are on the table for the Chilean. Which one will he opt for? (Photo courtesy – Dan Mullan/Getty Images)

Arsenal are trying their best to keep Sanchez in North London, even offering to hike his wages to as high as £270,000/week but their absence from Champions League football will be a huge deterring factor in their efforts to hold on to him.

City are leaving no stone unturned to secure their transfer targets this summer completing some swift business to complete some important additions to the squad. Midfielder Bernardo Silva and goalkeeper Ederson are the two arrivals so far with Guardiola spending £78 million to acquire their services.

With a £250 million war chest to exploit this summer, City have the financial resources to go bonkers and lay down a lucrative offer Arsenal may be forced to accept. Especially if Sanchez is a top priority target for the summer.

It’ll be interesting to see if Bayern Munich notice these developments and look to swoop in and sign the player at City’s expense. They have been long linked with the player as a direct replacement to Douglas Costa, who is seemingly out of favour at the moment.

Ancelotti signed Serge Gnabry, a former Arsenal man, from Bremen last week and could be looking to add Sanchez on the wings as well in a bid to launch a serious charge for Champions League glory next season.

It promises to be an interesting transfer ‘saga’ this summer with Sanchez seemingly keen on a move out to Manchester City and only time will tell which club he’ll swap loyalties with at the end of it all.