Alexis Sanchez shook hands on a new deal at Arsenal 12 months ago before their 10-2 aggregate rout to Bayern Munich in the Champions League changed his mind, according to a report.
The Times claim that a new contract for the Chilean superstar was all but signed this time last year, but the Gunners humiliation at the hands of the German giants was the key factor that led to a change of heart for the 29-year-old.
The winger has been a key player for Arsenal since joining from Barcelona in 2013, and has established himself as a bona fide star of Premier League football with his impact for the Gunners.
Arsenal are facing the prospect of two of their star players walking out of the club for free at the end of the season, with Sanchez and Mesut Ozil approaching the end of their contracts.
Several other stars have a short time left on their current deals, including Jack Wilshere, Theo Walcott, Aaron Ramsey and Danny Welbeck.
The news that Sanchez was so close to agreeing a deal will be a massive blow for Gunners fans, who will most likely see the Chilean leave for free in May.
Sanchez made it clear he wished to leave for Manchester City before the season started, but the deal collapsed at the last moment, and the winger has looked far from his best since then.
In other Arsenal news, the Gunners are reportedly showing concrete interest in this Barcelona winger.