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January transfer window: The latest news and rumours

Philippe Coutinho has sealed his 'dream' move to Barcelona. Will Alexis Sanchez head to Man City? Get all the latest transfer news and rumours as the January window unfolds.

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Man City prepared to walk away from Alexis Sanchez deal

Alexis Sanchez has been linked with Manchester City as his contract situation rumbles on. Credit: PA

Manchester City are prepared to walk away from a deal to sign Arsenal's Alexis Sanchez.

The Premier League leaders feel the overall price for signing the Chile forward this month - transfer fee, agent costs and wage demands - is currently too high and must come down.

City are not concerned if this stance opens up a route for another club, even arch-rivals Manchester United, to step in.

Jose Mourinho said: "At the general level, what I can say is that myself and the Manchester United board, we don't believe a lot in the January market. We don't believe in signing players just to sign a player, just to do something. We don't believe in that.

"What we believe really is that there are some players in the football world, if you have a chance to sign them, it doesn't matter if it is in January, March or July, you have to try.

"But in relation to Alexis Sanchez, I don't say a word. The only word I can say is the same word that everybody says, he's a phenomenal player.

"Apart from that, (he's an) Arsenal player, I feel I shouldn't say much more than this."

Sanchez has long been a target for City and they offered £60million for the 29-year-old, without success, last summer. They would now hope to do a deal for a fee of around £20million but are understood to have been quoted £35million.

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