The report claims that the Gunners have made an initial bid of around €28m (£22m) for Sanchez but Barcelona are holding out for their asking price of €38m (£30m) for the winger who is in high demand in the market with Liverpool too after his signature.
Arsenal manager Arsene Wenger has made the signing of a world class striker as his top priority but the Frenchman believes that he needs to add yet another central midfielder to his already plethora of options at the Emirates.
Wenger believes that Arturo Vidal would be just the kind of player he needs to invigorate a title challenge but the London side face competition from arch rivals Manchester United who are also after the Juvntus midfielder.
Serie A champions Juventus have made it clear that they want €50m (£40m) for the Vidal and it would be interesting to see if Wenger splashes the cash to acquire the signature of the 27 year old.
The high asking price might force Wenger to look for different options with Real Madrid Sami khedira, Southampton’s Morgan Schneiderlin and Bayer Leverkusen’s Lars Bender being touted as the possible names at the Emirates.