Real Madrid plot stunning £37.3m swap deal for Arsenal star Alexis Sanchez

Alexis Sanchez is reportedly emerging as a target for Real Madrid

REAL MADRID are preparing a £37.3million swap deal for Arsenal ace Alexis Sanchez, according to reports in Spain.

Sanchez has been a revelation for Arsenal since joining from Barcelona for £35m in July 2014.

And after a slow start to the season, the Chilean forward has hit form with six goals in his last three games for the Gunners.

But Spanish magazine Don Balon claim Real want to lure Sanchez back to La Liga with a £37.3m bid - and could also offer winger Denis Cheryshev to sweeten the deal.

It is claimed the Spanish giants view Sanchez as a long-term replacement for Cristiano Ronaldo.

Arsenal are preparing to reward Sanchez with a new contract that would make him the club's highest-paid player.

The 26-year-old currently earns £130,000 a week but is expected to surpass Mesut Ozil, who is on £140,000 a week.

Arsenal will be desperate not to lose Sanchez but club legend Ian Wright warned he may look to leave if they crash out of the Champions League.

 

Sanchez could be in line for a pay-rise at Arsenal

After Arsenal's 3-2 home defeat to Olympiakos last month, Wright said: "Normally we are out by the last 16 but this time we have massive hill to climb.

"And if we are going to be going out at this stage, people like Alexis Sanchez are going to start looking over their shoulder.

"How are you going to keep hold of him? Look at him, he was the stand out player tonight."