Alexis Sanchez's proposed move to Manchester City may not be as clear cut as first believed with Real Madrid now reportedly interested in signing him.

The former Barcelona man has just seven months remaining on his Arsenal contract and he is free to negotiate with foreign clubs in January.

Arsenal have repeatedly stated he is not for sale but they could be tempted to cash in on Sanchez or Mesut Ozil, who is also out of contract on June 30.

Real Madrid stated earlier this season they were unlikely to make additions in January but their flagging title challenge could see that stance chnge.

Alexis Sanchez is out of contract at the end of June (
Image:
AFP)

Zinedine Zidane's side are fourth in La Liga, eight points off the top of the table, and are second in their Champions League group.

Spanish publication Mundo Deportivo says this situation will lead to them strengthening when the winter transfer window opens.

While Inter Milan forward Mauro Icardi is their main target, they could consider signing Sanchez for two main reasons.

Firstly, his contract situation means they could sign him on the cheap. Secondly, he is not cup tied for the Champions League, which now looks set to be Los Blancos' main objective this season.