Arsenal will demand £80million for Alexis Sanchez as Manchester City prepare to make the first official offer.
City chiefs will table an opening bid of £50m for the Chile international who only has a year left on his contract at the Emirates.
According to sources close to the player, Arsenal - who have offered him a £300,00-a-week two-year contract - have now been told that Sanchez wants out.
But the Gunners hierarchy will stand firm on their valuation and run the risk of him leaving on a free transfer next summer.
While Wenger has been adamant that Sanchez will not be allowed to join a Premier League rival, City are bolstered by the belief that the player is keen to link up again with Pep Guardiola.
Guardiola put Sanchez on his wishlist when he agreed to become City boss more than a year ago.
And City will now make their interest official.
City also continue to negotiate with Tottenham for England right-back Kyle Walker and Monaco for French international Benjamin Mendy.
Spurs are refusing to budge on their £50m valuation of Walker – which is more than £10m above what City want to pay – but this week’s arrival of Dani Alves on a two-year deal will strengthen their hand.
Monaco’s £45m fee for Mendy has also been too rich for City, but there has been a breakthrough in recent days for the 22-year-old and the hope at the Etihad is that the transfer will be completed before the pre-season tour of the United States.