Sanchez, 28, is yet to sign a contract extension at Arsenal and looks destined to leave the club.
The Chile international will have just six months remaining on his current deal at the Emirates come January and will be free to talk to rival clubs.
Both Manchester City and Paris Saint-Germain are said to be interested in signing Alexis Sanchez on a free transfer at the end of the season.
Reports in France this week claimed PSG are looking to sell Edinson Cavani in the summer in order to facilitate for Sanchez’s arrival.
And Neymar, who signed for the club in a world-record £200m deal from Barcelona, also apparently wanted him to join.
PSG moved for Kylian Mbappe instead, but The Sun say the French giants are now ready to use Neymar to lure Sanchez to the club next summer.
It is said PSG are convinced that Sanchez’s friendship with former Barcelona team-mate Neymar will help them seal the deal.
The arrivals of Mbappe and Neymar could potentially breach Financial Fair Play regulations, so the arrival of Sanchez and departure of Cavani will help balance the books.
But PSG will face competition from Pep Guardiola’s City, who are ready to go back in for Sanchez.
The forward was on the verge of leaving Arsenal for the Etihad in the summer after a bid from City totalling £60million was accepted.
But Arsene Wenger pulled the plug on the deal at the last minute after they failed to land a replacement in time.
However, City are only willing to offer £20m for his services this time round.
Sanchez is currently on international duty with Chile for their World Cup qualifiers against Ecuador and Brazil.
