Alexis Sanchez was ready to sign a new deal with Arsenal last year, it has been revealed.

The Times says Alexis had agreed a new contract at Arsenal last season, only to change his mind following the 10-2 aggregate defeat to Bayern Munich.

Gunners fans are bracing themselves for the Chile ace's exit with his current deal expiring at the end of the season.

Manchester City and Paris Saint-Germain are among the frontrunners to sign him with an Emirates exit now an inevitability.

But Sanchez had "shaken hands" on a new deal last December before reneging on the agreement after Arsenal's Champions League humiliation.