Gino Pozzo claims a big-money bid was turned down for the Chile international, who he believes has shown that he is worth just as much as Barcelona star Lionel Messi
The Chile international has been one of the revelations of the season and has been linked with European giants such as Inter, Chelsea, Manchester United, Manchester City and Barcelona in the past couple of months.
Pozzo was quoted as saying by ANSA: "To me, Sanchez is worth as much as [Lionel] Messi. That's just my personal opinion, though.
"It is very hard to find any other players of his level. We have received an offer of €35m for him, but we rejected it. I think that he is worth more than that."
The 22-year-old's current contract with Udinese runs until the summer of 2014 and the Stadio Friuli club seem determined to hold on to Sanchez for at least one more season.
Sanchez, who helped his club secure a spot in next year's Champions League courtesy of a 0-0 draw with AC Milan on Sunday, currently sits 47th in the Castrol EDGE Rankings.