Alexis Sanchez will reportedly see out the final 12 months of his Arsenal contract before leaving the Emirates Stadium at the end of the 2017-18 campaign.
Sanchez will see his current deal expire next summer, and it is widely thought that the Chile international is refusing to pen a fresh contract with the Gunners.
Paris Saint-Germain had been linked with a big-money move for the 28-year-old, but the Ligue 1 giants have since signed Neymar in a world-record move, while Bayern Munich are also believed to have dropped their interest.
Arsenal boss Arsene Wenger, meanwhile, is said to be refusing to sell Sanchez to Premier League rivals Manchester City, and according to The Mirror, the attacker is prepared to accept his club's stance.
The report claims that Sanchez does not want to remain with Arsenal beyond next summer, but is prepared to continue with the club for the 2017-18 campaign, before departing on a free in June 2018.
The former Barcelona attacker, who scored 30 times in 51 appearances last season, watched from the stands as Arsenal beat Chelsea in the Community Shield at Wembley on Sunday afternoon.
