By Amir Mir

Arsenal forward Alexis Sanchez could spark a £50million battle between Manchester City and Juventus if he fails to sign a new deal at the club, according to a report.

The Mirror claim the 27-year-old wants a substantial rise on his current £130,000-a-week deal and the fact that no contract has been agreed has alerted City and Juve.

Sanchez will have just one year remaining on his contract at the end of this season and the north London club want to tie him down for another three years, with talks on-going since August.

It is said both City and Juventus know that Arsenal will be certain to sell Sanchez if he is left on his current contract at the end of the 2016/17 campaign.

That would open the club to the danger that the former Barcelona man could opt to see out his current deal and leave on a free transfer in 2018.

City boss Pep Guardiola beat off competition from Juventus in 2011 to sign Sanchez for £23 million for Barcelona from Udinese.

The Chile international, who lifted the Copa America with his home country in the summer, has been in fantastic form for Arsene Wenger’s side this term.

He has scored eight goals and provided seven assists in 15 Premier League and Champions League games as Wenger has utilised him in a forward role.

In other Arsenal transfer news, the Gunners could rekindle their long-running interest in this Premier League star.