Alexis Sanchez subject of £60m Manchester City transfer bid

Manchester City have launched a second bid for Arsenal forward Alexis Sanchez.

Sky Sports News understands the offer is £55m plus £5m in add-ons.

Sky sources reported earlier on Deadline Day that the Gunners will not accept a cash offer for the wantaway Chile star.

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Early indications were that they believe they have done good business in selling Alex Oxlade-Chamberlain to Liverpool for a fee understood to be £35m while in the last year of his contract.

Arsenal have wanted to keep Sanchez all summer and Arsene Wenger has insisted he is not for sale.

But Sky Sports' Spanish Football expert believes they are in talks to sign Thomas Lemar from Monaco and are confident of completing a deal.

Sanchez is in the last year of his contract and has so far failed to agree new terms But Wenger said earlier this month that he hoped the former Barcelona man would extend his contract.

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Sanchez is currently in with Chile national squad ahead of their World Cup Qualifiers and Sky Sports News understands that City officials are in the country in preparation to complete any potential deal.