Manchester City to return with £20m bid for Alexis Sanchez

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The Citizens had agreed on a £60m package with Arsenal on transfer deadline day, but the move fell through due to the Gunners' inability to sign a replacement.

According to The Sun, Pep Guardiola is likely to return with a fresh approach for Sanchez in the New Year, but he will be reluctant to pay more than £20m for his signature.

Arsene Wenger has already confirmed that the club will return with a fresh attempt to sign top target Thomas Lemar in January, and his arrival could enable them to cash in on Sanchez.

Sanchez has endured a tough couple of weeks with Chile, who have lost their World Cup qualifiers against Paraguay and Bolivia respectively during the international break.

As a result, the Copa America winners are placed sixth in the CONMEBOL division, and they will require victories in their final two games in order to stand any chance of making next year's tournament in Russia.