Cross writes: "There is also interest in Sanchez from Italy, but Arsenal hope for further talks with his agent Fernando Felicevich, who is expected to fly to London for more negotiations."
Jamie Sanderson of Metro also reports that Sanchez's agent has recently begun to follow a handful of Arsenal players on his Twitter account as well as the club's official feed, fuelling speculation that he is preparing for his client's move to the Emirates.
Former player and now football pundit Jan Aage Fjortoft reacted to the story on Twitter:
Rumour of the day: - Alexis Sanchez’s agent follows Arsenal Twitter. Therefore Arsenal favourite to get him. Could happen! But Twitter?— Jan Aage Fjortoft (@JanAageFjortoft) July 4, 2014
Sanchez impressed during Chile's credible World Cup run, the team only suffering elimination on penalties against hosts Brazil.
The player scored twice in his country's four games and provided one assist, as per WhoScored.com. He also had a good season at the Camp Nou in 2013-14, scoring 19 times and assisting on 10 occasions in the 34 La Liga games he played.
In recent times, Wenger has admitted he needs to sign an attacking player to complement Olivier Giroud and supplement the goalscoring responsibilities.
David Wright of The Express reported that the Arsenal boss recently said: "Maybe we have overplayed him [Giroud] at some stage. There is perhaps room for an attacking player who can play in a different position to Giroud. Someone who can play with him as well."
ESPN.co.uk reports that despite the Anfield club and Catalan giants having positive talks over Suarez, Arsenal are still confident of sealing the transfer of Sanchez.
Sanchez would be the perfect foil for Giroud in Arsenal's attack, and he would give the Gunners an element they do not currently have: a player with world-class ability to run with the ball and score from a variety of positions. Wenger needs an individual like Sanchez, so the reported fee would be a drop in the ocean when capturing a player of such talent.
Who will Alexis Sanchez join?
Sanchez will need to leave the Camp Nou if Barca complete their move for Suarez, and life in London would be very tempting for any player wanting a move to the Premier League.
The experience of playing for the Spanish team will set him up in good stead for the challenges ahead, and he should have no fear about his new surroundings should he join the north London club.
Wenger is famous for playing passing football, and Sanchez would add a new element to the Gunners' potency.