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Alexis Sanchez will become Manchester United's highest-paid player if his move from Arsenal goes through after agreeing personal terms, reports said on Wednesday.
The Chilean forward looks set to leave the Gunners this month and United have not hidden their interest.
United manager Jose Mourinho admitted on Monday night that his side "have a chance" to sign Sanchez in the January transfer window, with previous suitors Manchester City understood to have now exited the race for the 29-year-old due to the cost involved.
According to the Telegraph, United have offered Sanchez a four-and-a-half-year contract with an annual income of £27million before tax, which would make him the top-earning player at the club.
With a transfer fee, signing-on lump sum and an agent's fee likely to be involved, it means United could face an overall outlay of over £150million should they secure a deal for the former Barcelona player.
Manchester United have been approached for comment but have yet to respond.
United's bid to bring Sanchez to Old Trafford depends on Henrikh Mkhitaryan moving in the opposite direction, according to the Armenian's agent Mino Raiola.
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Alexis Sanchez has been omitted from Arsenal's squad to face Bournemouth.
Sanchez did not even travel to the south coast, with Gunners boss Arsene Wenger admitting he was left at home over his unresolved future.
Sanchez has refused to sign a new Arsenal contract with his current deal expiring in the summer, and Manchester United and Manchester City are reportedly both keen on recruiting the Chile striker this month.
Wenger confirmed before kick-off at Dean Court that he remained unsure on Sanchez's future.
"He's being vague, we have left him at home because of the situation," Wenger told Sky Sports.
"I still don't know what is going to happen."
Wenger admitted on Friday that Sanchez would not be signing a new Arsenal deal, ultimately paving the way for the 29-year-old to leave the north London club in the current transfer window.