Manchester City are eyeing a cut-price January deal for Alexis Sanchez but are unwilling to go beyond £20 million to land the Arsenal contract rebel.

According to The Mirror, Manchester City are prepared to rescue Alexis Sanchez from Arsenal, should the contract standoff continue into the January transfer window. But, the Citizens are only to move in January if the Gunners drop their asking price to a considerably low £20 million.

Alexis Sanchez has had a tough couple of months in his footballing career. The Chilean has refused to sign a new contract at Arsenal but remained with the Gunners as Manchester City failed in their advances to sign the player in the summer transfer window.

And, the player was dealt another blow, albeit at the international level, with Chile failing to qualify for the 2018 FIFA World Cup on a dramatic last day of the CONMEBOL qualifiers. Alexis is now set to return to club football, with his Arsenal future still shrouded in doubt.

The player will be free to negotiate with foreign clubs come January and Arsenal would risk losing the player on a free transfer, an event Arsene Wenger iterated is a possibility despite saying that the club are in talks with Alexis Sanchez and Mesut Ozil for a renewal.

Manchester City have never shied away from spending big to get their desired star. However, Pep Guardiola will likely play it smart in the case of Alexis Sanchez, who seems to be interested in a move to the Citizens, which will play into City’s hands.

City know they will be able to get the player on a free transfer at the end of the season. But, the Chilean’s addition in January itself can make them overwhelming favourites for the 2017-18 Premier League title itself, something Pep Guardiola and his City team would be focused towards.

Arsenal too, in all likeliness will not want to lose Alexis Sanchez for free, despite Wenger’s bold statements. Manchester City are prepared to test Arsenal’s resolve in January with a formal bid.

However, the amount is likely to be nowhere near their earlier £60 million summer offer, which was rejected by Arsenal. City are willing to go upto £20 million for the Chilean and will not pursue him in January if Arsenal do hold out for more. Now, Arsenal will be trying to get Alexis to sign a renewal.

But, in the wake of their failure to get the Chilean to commit, the club will then have to decide whether they want to lose the player for free at the end of the season or for some fee in January itself, with the trade-off being his departure mid-season, upon which the Gunners would have to look towards potential replacements.

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