Manchester City fear that they may be blown out of the water by PSG in the race to sign Alexis Sanchez.
The Chilean striker is desperate to leave Arsenal and will be free to speak to European clubs in January as he is out-of-contract next summer.
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By contrast, Man City must wait until summer to speak to Sanchez.
Pep Guardiola was confident the 28-year-old wanted to join City, despite a failed £60m pursuit in the previous transfer window.
But Paris Saint-Germain are ramping up their interest and want him to partner Neymar and Kylian Mbappe upfront.
Sanchez met with PSG chiefs in the French capital this summer, where they discussed a potential transfer.
He demanded a staggering £400,000-a-week, which the Ligue 1 side admitted they could not afford to pay.
But Unai Emery’s team did tell him they would hand him a hefty signing on fee and top City’s offer of £275,000-a-week.
It is understood PSG will offload Edinson Cavani, who recently had a bust-up with Neymar over a free-kick to make way for Sanchez.
A source revealed: “City’s pursuit of Alexis could be in trouble. Pep is sure he wants to join the club but Paris are sniffing.
“They still have the funds to sign him and can beat City’s wage offer. They will also pay him a huge signing on fee.
“Sanchez can talk to European clubs in January and sign a pre-contract. He’s in a very strong situation.”
PSG have already shelled out a world record £198m to Barcelona for Brazilian superstar Neymar this year.
They also took Mbappe on a season-long loan from Monaco, with a commitment to buy him for £166m next summer.
Sanchez is desperate to quit the Emirates, with Real Madrid even showing an interest in snapping him up.
But City are still hopeful of tempting Arsenal with a £20m offer in January before his deal runs out.
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Arsene Wenger is understood to have accepted he is leaving, but wants Monaco ace Thomas Lemar as a replacement.
Manchester United also threw their hat into the ring this week by offering Sanchez a £25m signing on free to join them.
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