Sanchez has been linked with several Premier League rivals after refusing to sign a contract extension at the Emirates.
City believe they are in pole position to seal the transfer, but only if Sanchez follows the blueprint they gave him.
Arsenal will do everything in their power to make sure Sanchez does not join another English club and are willing to smooth the path for foreign sides to sign the attacker.
Bayern Munich and Paris Saint-Germain are believed to have made their interest known and Arsenal are open to selling to either of those teams rather than see Sanchez head to the Etihad.
And Arsenal are prepared to allow Sanchez to leave at a cut-price deal.
Pep Guardiola has ordered Sanchez to resist any and all offers to join a foreign club and wait for Arsenal’s resistance to soften.
Sanchez is Arsenal’s top scorer (Picture: Getty)
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Sanchez wants a reunion with Guardiola and City believe he is ready to stonewall Arsenal into allowing him to join the Sky Blues, according to the Mirror.
Guardiola is also confident they can acquire Sanchez’s services for just £40 million.
Sanchez played under Guardiola at Barcelona and the City coach is eager to make the Chilean the star man of his new-look side.