Sanchez’s future looks set to be resolved this month but it remains unclear what club he will be at come February.
Manchester City were thought to be the leading candidates for his signature after attempting to buy him in the summer.
But the Etihad outfit are not willing to meet Arsenal’s £35million asking price, opening the door for Manchester United to make a move.
City are only willing to pay £20m to sign Sanchez in January with the Chile international available to join for free in the summer.
However, United are prepared to scrap plans to sign Griezmann and Bale in the summer in order to bring Sanchez to Old Trafford.
That’s according to the Mail on Sunday, who claim United are willing to make Sanchez the best paid player in the Premier League.
The Red Devils are reportedly willing to pay Arsenal £30m for his services and will offer the 29-year-old a bumper wage packet worth £350,000-a-week.
And the report goes on to say United’s hunt to sign Sanchez would result in Jose Mourinho opting out of moves for Griezmann and Bale in the summer.
The Portuguese coach has a long standing interest in the two La Liga stars and publicly admitted he wanted the latter to push through a move to United last summer.
Barcelona have recently been linked with a move for Griezmann but their acquisition of Philippe Coutinho for £142m could prevent them from making a bid for the France international.