Arsenal identify the perfect Sanchez replacement, £60m deal on the cards

Premier League giants Arsenal have set their sights on signing long-time target Alexandre Lacazette as a potential replacement for Alexis Sanchez.

The Gunners are said to fear the loss of their Chilean star more than their manager, who could stay at the club for a further two years.

According to The Mirror, Arsene Wenger is resigned to losing his key asset during the summer transfer window, should he fail to agree a deal between now and the end of the season.

Sanchez has just about 15 months left on his present contract, and his reluctance to pen an extension appears to have urged the hierarchy to cash in on his signature.

Juventus are currently heading the queue to sign the South American footballer, who could be sold for just £35m in the summer.

Meanwhile, Lyon's Lacazette seems to be back on Gunners radar after the club failed with an approach prior to the start of the campaign.

Lacazette has had another brilliant season in Ligue 1 with 22 goals in as many games, and the Gunners are now willing to cough up a £60m sum - nearly twice of what they offered in July 2016.

However, they could still face competition from rivals Liverpool, who seek to replace Daniel Sturridge during the off-season.

Lacazette is the second-highest scorer in the French league only behind the inconsistent but nevertheless exciting Edinson Cavani.