Arsenal stars are convinced the 28-year-old forward has a deal in the pipeline, according to the Daily Mirror.
Sanchez has 18 months left on his current contract and is stalling on fresh terms.
The Chile star wants a deal in the region of £250,000-a-week but Gunners chiefs have come up short.
If they fail to strike an agreement soon then Arsenal will be forced to decide between selling him this summer or risk losing him on a free transfer in 2018.
A number of Europe's biggest clubs are monitoring Sanchez's situation.
Paris St-Germain think they have the lead on their transfer rivals while Atletico Madrid fancy him as a replacement for Manchester United target Antoine Griezmann.
Juventus have entered the fray and have been in touch with Sanchez's representatives.
They are ready to meet the ex-Barcelona ace's demands over a three-year deal and believe he does not want to return to Spain.
Arsene Wenger last month said he was 'convinced' Sanchez would sign a new contract.
"Alexis Sanchez is a committed player who wants to stay," said Wenger. "I'm convinced we'll find an agreement. It has to be in our potential."
