Real Madrid have reportedly begun talks with Arsenal attacker Alexis Sanchez over a possible transfer to the Bernabeu.
The 28-year-old is now in the final year of his contract with the Gunners and has turned down offers of an extension as he seeks a significant increase on his current wages of £130,000 a week.
A £70m move to Manchester City failed to go through on the final day of the summer transfer window as Arsene Wenger's side could not secure a replacement, meaning that the Chilean is now set to depart on a free at the end of the season.
According to Spanish publication Don Balon, Madrid president Florentino Perez has begun talks with Sanchez over a move and is confident of landing him in "a cut-price deal" in January.
Sanchez spent three seasons with Madrid's arch rivals Barcelona prior to his switch to the Emirates in 2014.
