Both Per Mertesaker and Arsene Wenger have insisted that the Gunners can keep their star man at the Emirates, but what do the odds say?
Manchester City and Arsenal appear to be involved in a titanic tussle for the services of Alexis Sanchez this summer.
Pep Guardiola has reportedly made the Chile international, with whom he worked at Barcelona, his number one target but the Gunners are holding firm - for now, at least.
Both Arsene Wenger and Per Mertesaker have recently insisted that they believe Sanchez will stay at the Emirates, despite the fact that the club have no Champions League football and the 28-year-old has just a year left on his current contract.
Paddy Power still believe a move to the Etihad is the most likely outcome though, with Sanchez priced at 5/6 (1.83) to reunite with Guardiola and form part of a fearsome forward line that already includes Sergio Aguero and Gabriel Jesus.
It's 11/8 (2.38) that the Chilean, who was on duty with his country at the Confederations Cup in Russia this summer, stays at Arsenal.
With Wenger's understandable reluctance to sell to a Premier League rival clearly playing some part in holding up the price for a summer move not coming off.
Bayern Munich had previously shown an interest, but they are 16/1 (17.0) shots to bring Sanchez to the Bundesliga. Wages could be the stumbling block for Carlo Ancelotti's men, with the club unlikely to be able to compete with the astronomical amounts on offer should Manchester City get their way.
Chelsea and Manchester United are both 12/1 (13.0) in the market but at this point it certainly seems like a straight battle between City and Arsenal at this point.