City boss Pep Guardiola wants to fast forward his attempts to sign Sanchez – and the Blues have sounded out Arsenal about a potential £25million deal.
It is understood Arsenal will be willing to sell at the right price and are likely to want closer to £30m, but they will also want the deal done early enough to allow them to sign a replacement for Sanchez before the window closes.
City were confident of signing Sanchez on a free transfer in the summer when his contract expires, knowing the Chile star has always preferred a move to them over Paris Saint Germain.
But the injury to Gabriel Jesus, who is out for up to two months, coupled with the fact Sanchez can play in the Champions League, has brought about a change of plan from Guardiola and City chiefs.
Guardiola and the City hierarchy were concerned at potentially upsetting the balance of their squad by bringing in Sanchez, with the Blues 15 points clear at the top of the Premier League and on course for a unique Quadruple.
But the landscape has changed with the injury to Jesus, with Guardiola reduced to Sergio Aguero as his only out-and-out fit striker, meaning a move for Sanchez is a priority this month.