Arsenal's Alexis Sanchez celebrates after scoring his second goal during their English Premier League soccer match against Stoke City at the Emirates Stadium in London January 11, 2015.
Arsenal's Alexis Sanchez celebrates after scoring his second goal during their English Premier League soccer match against Stoke City at the Emirates Stadium in London January 11, 2015. REUTERS/Eddie Keogh

Arsenal star striker Alexis Sanchez could become a member of Manchester City by the end of the week, according to a new report. The two English clubs have opened talks over a deal in the ongoing mid-season transfer window.

According to ESPN FC, Arsenal has given up hopes of re-signing Sanchez to a contract extension. The report adds that Sanchez made it clear he wants to play for Manchester City manager Pep Guardiola.

City could have waited until the summer to sign Sanchez. However, they decided to pursue the Chilean after striker Gabriel Jesus suffered a knee ligament injury that will keep him out of action for at least six weeks. The injury meant that Guardiola was left with just Sergio Aguero as a recognised striker on the roster.

During last year's pre-season transfer window, Sanchez and Arsenal nearly agreed on a £60 million (AU$103 million) contract. However, Arsenal's front office reneged late in the day and allowed Sanchez to become a free agent in 2018.

The report adds that Arsenal is seeking a transfer fee of approximately £35 million (AU$60 million). "Arsenal want around £35m for him, according to sources, but City want to pay considerably less although an agreement is expected to be reached. Meanwhile, Sanchez has reportedly fallen out with his Arsenal teammates, which could have hastened Arsene Wenger's decision to allow him to leave."

On Tuesday, Arsenal boss Arsene Wenger evaded questions of Sanchez' potential transfer to Man City. "I expect nothing. I'm focused on tomorrow's game (vs. Chelsea). When solicitations happen, you respond to it. At the moment, it's very quiet. I have nothing to add to what I said before on that."

Alexis Sanchez joined Arsenal in 2014 after spending three seasons with Barcelona. Sanchez has netted a total of 80 goals from 122 appearances for The Gunners. He has helped Arsenal clinch two FA Cup titles since arriving at Emirates Stadium.