Arsenal forward Alexis Sanchez had 'shaken hands on a new deal' but changed his mind after 10-2 defeat by Bayern Munich

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Alexis Sanchez had reportedly agreed to sign a new contract at Arsenal but changed his mind in the wake of their 10-2 battering at the hands of Bayern Munich.

The Chile forward is set to leave the north London for free at the end of season having so far decided against renewing his current deal, which expires in June.

But according to The Times, Sanchez had shaken hands on the terms of a new contract with the Premier League club this time last year.

Alexis Sanchez had agreed to sign a new deal at Arsenal last season, according to reports

But the 29-old changed his mind following the Gunners' 10-2 defeat by Bayern Munich

But they claim the 29-year-old then decided to renege on his decision following the Gunners' mauling by Bayern in the last-16 of last season's Champions League.

Arsenal were beaten 5-1 in both legs in what was the worst result ever suffered by an English side in the Champions League. 

A few months later Sanchez, who moved to north London for £30million in 2014, came close to joining Manchester City in the summer but Arsenal pulled the plug on the deal at the eleventh-hour.

The Chile star is almost certain to move to the league leaders in the summer, though. City are confident that Sanchez will move to the Etihad Stadium as a free agent at the end of the season when his contract runs out, having set his heart on joining Pep Guardiola's side. 

Sanchez (left) scored for the Gunners in their pulsating 3-3 draw with Liverpool on Friday night

The 29-year-old was on the verge of joining Pep Guardiola's Manchester City in the summer

They would consider paying a modest fee for the the Chile star in January if there is a danger of him going elsewhere amid reports of interest from Paris Saint-Germain. 

Gunners legend Ian Wright, meanwhile, has slammed the Arsenal forward's attitude, claiming he has 'clocked out' ahead of the January window.

Speaking on BBC Radio 5 Live, he said: 'It does look to me like he's clocked off. Sanchez's attitude is saying a lot about him. If he left in January, the way he's playing now, I can't see how that's going to hurt Arsenal. He's not playing well enough.

'He's not putting in a shift. Coutinho wanted to leave. He put in a transfer request but look at the way he's playing. Look at the way Ozil is playing.

'You've got to still put it in. He's not putting it in. It says a lot about him. People looking in who are potential buyers, what are they thinking about him and his attitude?