Raheem Sterling is open to a move back to London but Arsenal would prefer Sergio Aguero is included in any swap-deal involving Alexis Sanchez joining Manchester City, according to a report in the Express.
It is also understood that it is Arsenal who broached the idea of including Raheem Sterling in the deal, though City have no desire to sell the England global and are determined to complete a cash-only transfer. Manchester City, who have been touted as the favourites to land the Chilean, have made a sizzling cash plus player bid to Arsenal in order to get their target.
According to BBC, Arsene Wenger will not let the Chilean global leave as they have rebuffed all approaches for the former Barcelona ace.
On Tuesday it was reported by David Ornstein of BBC Sport that Arsenal turned down an offer for Sanchez from fellow Premier League side Manchester City.
England forward Sterling, 22, has featured in all three of City's games so far this season.
Arsenal have denied claims Alexis Sanchez has handed in a transfer request.
Sterling has been in-and-out of the Citizens lineup since the start of the season, but he has still proved effective with an equaliser against Everton which was followed by a late victor versus Bournemouth.
Arsene Wenger said earlier this month that Sanchez would "respect" the Arsenal manager's decision and stay at the club.
And, as per reports from Sam Lee, James Robson, as well as multiple others this evening, the Citizens have seen an opening offer of £50 million rebuffed by Arsenal, who are thought to be holding out for a fee of at least £60 million. Especially as Wenger risks losing him for free next year.
The Blues are set to make a final push to sign Oxlade-Chamberlain, but Arsenal have again been insistent that they will not allow the England worldwide to leave.