The 28-year-old Chile international has been heavily linked with a move away from the Emirates Stadium this summer, given that he has still not agreed to sign the contract extension on offer and he is approaching the final year of his current deal.
Recent reports suggested that City were leading the chase to sign Sanchez, while Chelsea have also been linked with a rival £45million swoop on the player who has scored 72 goals in 144 appearances in all competitions since joining the Gunners from Barcelona in 2014 for just over £30million.
However, it seems that Gunners’ chiefs are in no mood to allow one of their domestic rivals to significantly strengthen in this transfer window and are set to resist any offers from any Premier League sides.
It means German champions Bayern Munich will be firmly in the driving seat to sign Sanchez if he does leave Arsenal, while Italian giants Juventus are also thought to be interested.
A goal apiece from James Tomkins and Luka Milivojevic handed Crystal Palace a crucial 2-0 win over Huddersfield at the John Smith's Stadium on Saturday evening.
Manchester United bounced back from their Champions League exit as they beat Brighton 2-0 at Old Trafford on Saturday night to reach the FA Cup semi-finals.
Tottenham reached the FA Cup semi-finals after they cruised to a 3-0 victory over Swansea in their quarter-final clash at the Liberty Stadium on Saturday.