Manchester City to bid "big" for Alexis Sanchez in January

Manchester City are reportedly planning to make a "big" bid for the services of Arsenal attacker Alexis Sanchez when the transfer window reopens next month.

The 28-year-old is out of contract at the Emirates in the summer and has refused to pen new terms as he eyes more lucrative prospects elsewhere.

City almost completed a deal for Sanchez last summer, only for the transfer to fall through at the last moment due to the Gunners' inability to secure a replacement for the Chilean.

The Premier League leaders had been expected to move again for him in January - albeit for a much-reduced price - but are now expected to make a significant offer in order to thwart competition from the likes of Real Madrid and Paris Saint-Germain.

According to The Telegraph, Arsenal are still adamant that they will need to secure a replacement before selling Sanchez to City and will require a fee "in excess of £50m" in order for the deal to happen.

Sanchez is understood to be demanding wages of around £300,000 a week from any club interested in his services.