The 25-year-old attacker has become one of European football’s most sought after players in recent weeks, amid talk that Barcelona are ready to cut him loose despite his impressive displays in Brazil.
Sanchez himself is understood to have shown an inclination to join Arsenal if he is forced out of the Nou Camp, while many outlets have reported that he could well be used as bait in a deal to convince Liverpool to sell Luis Suarez to the Catalan giants.
But now City are also in the mix with Manuel Pellegrini keen to lure his compatriot to the Etihad Stadium.
The Sky Blues’ spending will be limited to £49m – a far cry from the sums splashed in recent years – with the realities of Financial Fair Play having hit home at the club, but their boss is willing to dedicate at least half of that to nabbing Sanchez.
Despite watching his side top the scoring charts on their way to the title last term, Pellegrini is keen to bolster his attacking ranks, and he sees that Barca star – who only trailed Lionel Messi in terms of goals in the red and blue shirt last season – as a good option.