Arsenal Transfer News: Latest Rumours on Alexis Sanchez and Ademola Lookman

Arsenal may be forced to consider life after Alexis Sanchez amid reports Juventus and Manchester City will battle it out to sign the Chile international next summer. Elsewhere, Everton are determined to beat the Gunners to Charlton Athletic's Ademola Lookman.

Sanchez is currently locked in contract talks with the north Londoners, but David Wright of the Daily Express cited Italian outlet Calciomercato, which reported Juve and City could capitalise on any pause in a new deal being signed.

Wright also sourced the Daily Mirror's John Cross, who recently reported Gunners manager Arsene Wenger has already identified Borussia Dortmund superstar Marco Reus as a potential Sanchez replacement.

The 27-year-old has a little more than 18 months remaining on his Arsenal deal, and Opta statistician Orbinho has illustrated just why the Premier League club are so adamant to hang on to their South American star:

Sanchez has lined up largely in a central striking role under Wenger this season, taking on a larger scoring responsibility as he looks to build on an Arsenal record that already stands at 50 goals in 109 appearances, per Transfermarkt.

The former Barcelona ace was again among Arsenal's more impressive stars in Saturday's 1-1 draw at Manchester United, although Sport Witness argued Sanchez was the best Gunners player on the pitch:

It seems unlikely Wenger would consider selling such a valued asset to a direct Premier League rival, however, meaning Juve could be considered the more likely side to take their target back to Serie A.

Sanchez was previously a success in Italy, having spent five years at Udinese between 2006 and 2011—the club that provided his launching platform in Europe.

Meanwhile, Everton director of football Steve Walsh is determined to beat Arsenal to the signature of Charlton youngster Lookman, and London News Online (h/t Metro's Louis Sealey) reported the Toffees are now favourites to snatch his services.

The League One forward has been linked with Premier League suitors in the past, and BBC Sport's Oluwashina Okeleji reported on Crystal Palace's failed move for Lookman after the summer transfer window: 

Walsh was one of the figures who helped Leicester City's run to the 2015-16 Premier League title following his work as a scout, and Lookman appears to have caught his attention as one of the next big prospects in England.

The Telegraph's Matt Law also reported Bundesliga leaders Red Bull Leipzig are raising interest in Lookman, 19, although the promise of playing Premier League football may trump any foreign opportunities coming his way.