The Chilean attacker enjoyed an excellent World Cup with his nation, netting against hosts Brazil as they slipped out on penalty kicks in the first knockout game.
Even though he has impressed in South America and was one of Barca’s key men last term, the Catalan giants are ready to cut him loose for the right price.
Liverpool and Manchester United have been linked with the 25-year-old, but Arsene Wenger is hopeful that he can win the battle with a £32m offer.
Arsenal’s main priority is said to be a centre-forward, and the Frenchman is confident that the wide attacker can be converted to play in the role.
Although a pint-sized player, Sanchez is good on the ball and possesses a clinical edge in front of goal, which Wenger sees as key attributes.
One problem could be persuading the skilful forward to move to the Emirates Stadium, with Italian champions Juventus also keen.