Arsenal Transfer News: Alexis Sanchez, Denis Cheryshev Swap Eyed by Real Madrid

Arsenal could be in danger of losing star player Alexis Sanchez as Real Madrid are reportedly preparing to move for the Chilean forward.

According to Spanish outlet Don Balon (h/t Metro), the La Liga giants are ready to bid €50 million (£37.3 million) for Sanchez, with winger Denis Cheryshev also potentially set to be included in the deal. 

Arsenal are in the process of trying to tie Sanchez down to a new contract that would make him the best paid player at the club, per Sami Mokbel in the Daily Mail.

He is unquestionably Arsenal's most potent attacking threat, per Bleacher Report's Sam Tighe:

Sanchez has netted five goals in the Gunners' last two Premier League outings after a slow start to the season, per WhoScored.com.

The Gunners would be loath to let the 26-year-old go under any circumstances, as Sanchez has more than lived up to his £35 million price tag since his arrival at the Emirates in July 2014.

He has become one of the most popular players among the Gunners faithful and Arsene Wenger's men look as though they could make a genuine tilt for the Premier League title this season.

However, the Chile international may be tempted by a move to the Bernabeu, not only because of the financial incentives he would likely be offered, but also the Champions League ambitions of the Madrid outfit.

After losses in their opening two group games of the Champions League this season, Arsenal are in serious danger of not reaching the knockout rounds.

In recent seasons they have repeatedly failed to make it past the last-16 stage, while Real have at least made the last four in the last five seasons, and won the competition in 2014.

A player of Sanchez's quality—he is arguably one of the 10 best players in the world—should expect to be competing at the business end of the Champions League every season.

Arsenal will likely do everything possible to ward of interest from Real. Sanchez's current contract expires in 2018, but if the Gunners can succeed in tying him to an extension, any fears of his departure should be allayed for now.

Undoubtedly, though, the prospect of fielding an attacking trio of Gareth Bale, Cristiano Ronaldo and Sanchez is very appealing to the Real hierarchy, and their reported interested in the Chilean will not be diminished easily.