The Mirror says Alexis will spark a £50million battle between Manchester City and Juventus if he fails to agree a new deal at Arsenal .
The Chile international has been in superb form for the Gunners this season and wants a substantial rise on his current £130,000-a week-deal.
Sanchez, 27, will have one year left on his contract at the end of this season and Arsenal want him for anther three years.
Talks have been on-going since August and they know the next deal he signs will the most lucrative of his career and wants that reflected in his salary.
The fact that no contract has yet been signed has alerted Juventus and City.
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