Manchester City have not given up hope of signing Alexis Sanchez from Arsenal before the transfer deadline

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Manchester City still hold hope of landing Arsenal star Alexis Sanchez before next week’s transfer deadline.

Pep Guardiola identified the Gunners forward as a primary target this summer but has been surprised by Arsene Wenger’s resolve in keeping his prized asset, valued at more than £50million.

Sanchez - who is set to link up with the Chile squad next week - is open to a switch north but much depends on whether Arsenal fold in the final days of the window.

Arsenal star Alexis Sanchez's proposed move to Manchester City this summer could still be on

Pep Guardiola has not given up hope of signing the 28-year-old before next week's deadline

Guardiola is willing to wait until next summer to sign Sanchez for nothing should a transfer fail to materialise.

City have also rejected a £10m from Swansea City for striker Wilfried Bony.

City Football Group announced the acquisition of 44 per cent of Girona for around £3.5m yesterday in a deal which further indicates their close relationship with Guardiola’s brother, Pere.

His agency, Media Base, have secured the same share in Girona, with the club's supporters' association owning the remaining 12 per cent.

City have already loaned Girona five players this summer and explored the possibility of sending Patrick Roberts to Spain.

The winger, however, is more likely to join Celtic after explaining his preference was a return to Glasgow. That move now makes further sense after Celtic secured Champions League qualification this week.

Pablo Maffeo, Aleix Garcia, Douglas Luiz, Marlos Moreno and Larry Kayode are currently at Girona and City believe the competition in La Liga will provide evidence as to whether they have a future in Manchester.

Arsenal remain adamant they will not sell Sanchez, who has less than a year left on his contract

City hope Arsenal will fold but if Sanchez does stay they plan to sign him for free next summer

Sanchez has yet to play for Arsenal this term but is expected to feature at Liverpool on Sunday