By Harvey Byrne

Inter Milan are preparing a £69million bid for Alexis Sanchez, according to a report.

Spanish news outlet Don Balon claim that the San Siro giants are ready to sell star striker Mauro Icardi and could use most of the proceeds to buy the Arsenal forward.

It is said that Sanchez is open to a return to Italy but has stipulated that he would only agree to a move if Inter were willing to make him the best-paid player in Serie A.

Intriguingly, the Chile international has entered the last two years of his Arsenal contract and has yet to agree an extension despite extensive talks with the club.

The highest fee Arsenal have received for a player is the £29.8million fee paid by Barcelona for Cesc Fabregas in 2011, with the claimed Sanchez fee more than double the amount they received for the Spaniard.

The London giants have also reportedly been interested in Inter forward Icardi with Gazzetta Dello Sport claiming that the Gunners were to make a swoop for the 23-year-old by offering a player-plus-cash deal of £30million plus Olivier Giroud in exchange for the forward.

However, it is doubtful that Arsene Wenger would agree to a deal which involves star man Sanchez.

The 27-year-old attacker moved to the Emirates in 2014 from Spanish giants Barcelona for a fee of £31.7million and is one of the key players in Wenger’s team.

The Chile international has made 92 appearances in all competitions during his two years at the club and scored an impressive 42 goals from his attacking position.

He  lead the line and played the full 90 minutes in Arsenal’s 4-3 defeat against Liverpool on Sunday, but he was unable to get onto the score sheet.

In other Arsenal transfer news, the Gunners are closing in on the signing of Shkodran Mustafi from Valencia.