Arsenal are reportedly on the verge of losing one of their best players, but it seems that they will be getting a new man in return.

Sky Sports News claims that a deal has been agreed in principle for Alexis Sanchez to sign for Manchester United.

Henrikh Mkhitaryan could be part of the exchange, with the report adding that the Armenian is close to agreeing a switch to the Emirates.

The attacking player moved to Old Trafford from Borussia Dortmund in 2016 and has had spells of positive form, but it has been a rather rocky term at United.

This season, Mkhitaryan has spent the majority of it as a bit-part player, starting just 11 Premier League games.

The 28-year-old has showed flashes of brilliance, but not enough for Jose Mourinho to give him a regular role in the team.

Former Arsenal player Charlie Nicholas believes that the Gunners should try to convince United to include Anthony Martial in the deal rather than Mkhitaryan.

Like the winger, Martial has had spells in and out of the team, but this season he has performed well, scoring 10 goals and six assists in 31 appearances in all competitions.

Nicholas told Sky Sports:

"I appreciate [Mkhitaryan] is efficient and a decent team player. Would I take the deal? Yes, I would. But to be totally honest I'd much rather pay an additional £50m to get Martial. I think if Arsenal would say to Martial: 'You can be the next Thierry Henry.' Arsenal made £30m on selling Alex Oxlade-Chamberlain, £20m on Theo Walcott, so go all-in; forget Malcom or other players who may or may not be good prospects, go all-in and give him what he wants financially."

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