Manchester City have not pulled the plug on a deal for Alexis Sanchez - with boss Pep Guardiola and the club's hierarchy meeting today to decide what to do.
Manchester United remain favourites to sign Sanchez from Arsenal for £35million, with City only prepared to pay £20m for the Chile forward who is out of contract in six months.
Mirror Football has learned a move for Sanchez is "highly unlikely" from City, with the club unwilling to pay what they consider exorbitant sums of money being demanded by Arsenal and the player's representatives.
But a final decision will be made by City today, following a meeting between Guardiola, chief executive Ferran Soriano and director of football Txiki Begiristain, with chairman Khalddon Al Mubarak also in dialogue with the trio.
City has always been Sanchez's preferred choice, with the 29-year-old keen to be reunited with his former Barcelona manager Guardiola.
But such is the forward's desperation to leave Arsenal this month, he is prepared to switch to United.
The Blues must now decide whether it is worth paying more than they feel is right for Sanchez to ensure one of their top transfer targets does not join their local rivals, or whether to maintain their stance of not being held to ransom over a player who can leave Arsenal for nothing this summer.
After Sunday's defeat by Bournemouth, Arsene Wenger, who left the Chilean at home for the match, admitted he wants the situation resolved as quickly as possible.
Gunners boss Wenger said: “It will be decided in the next 48 hours. It was a bit difficult for him because he was on stand-by. That's why I decided not to do it. He did not refuse to play.
“It's a difficult period for him (Sanchez). He's always been committed until now but he could have moved yesterday, today or not.
“I don't master the rhythm of that (the transfer) but it could happen today, tomorrow or not at all. That's why I took a decision [not to select him]… I didn't want to travel with him and suddenly he goes somewhere.
"Look, if Sanchez goes we need to replace him. I say when you look at today, we missed many players in our squad. And you say that they have a weight in the team.
“If players like Sanchez go, we have of course to respond to it. Will he go or not, I don't know, but at the moment, it's transfer period and in this kind of periods, you try to use the players who are completely focused on being at the club.”
Wenger is a big admirer of Mkhitaryan, was offered him before he moved to Old Trafford and now that could happen with United keen to keep Anthony Martial who Arsenal also rate highly.