Per Goal's Paul Clenman, City have told Barcelona to keep them in the loop regarding Sanchez's future, while Andoni Zubizarreta told reporters the Balugrana have already received several offers for the player, via the Daily Mirror's Sam Marsden:
"Regarding the future of Alexis Sanchez, there have been offers for the player. But I do not know how it will all end - we are looking for a solution which will be best for everyone."
Arsenal reportedly have the inside track for his signature, per Clenman, but the Citizens have the kind of financial firepower to blow these transfer negotiations wide open.
Sanchez had a very strong season with Barcelona, scoring 19 goals in 34 La Liga appearances (and adding 10 assists) as a wide man, per WhoScored.com, but he truly exploded during the 2014 World Cup.
Playing in a two-man front, Sanchez was a nightmare for opposing defences. The Chilean used his superb athleticism to roam all over the pitch, pulling defenders out of position to create acres of space for his teammates.
He also added two goals and an assist in four matches, proving he can be productive even if the opponents are focusing all of their attention on him. The forward had a truly great tournament, and it's not surprising clubs are lining up to bring him in.
Sanchez still prefers an extended stay in Spain, per Marsden, but with a possible transfer ban still on the horizon for the Blaugrana, Barcelona could choose to move the player, as they aren't lacking for options out wide.
He's always done his best work playing in a more central role, however. At Udinese, Sanchez played in support of Antonio Di Natale, using his great range to work in tandem with the veteran poacher.
With Chile, he does much of the same, tracking back and moving wide whenever he has the chance. Playing next to someone like Sergio Aguero in City's 4-4-2, Sanchez would effectively get to do what he does best.
The Citizens don't necessarily need another striker—Aguero and Alvaro Negredo formed an excellent partnership last season, and the Spaniard adapted to the English game without too much difficulty.
Negredo is a very good striker, but he's no Sanchez. The Chilean is an athletic freak who seemingly scores with his eyes closed, the kind of player who will make any team in world football better.
Manchester City are already a good team, but, for all of their Premier League glory, they've yet to live up to the expectations in the UEFA Champions League.
Sanchez would push this team over the edge, and, with the mercurial Edin Dzeko coming off the bench as a super-sub, City could stake their claim for having arguably the greatest attacking unit in the world.
City like making one big splash signing during every summer transfer window, and Sanchez should be near the top of the team's wish list. His attacking prowess and raw athleticism could help this team reach spectacular heights and finally make a push for European glory.