BREAKING: Arsenal reject £50m offer from Manchester City for Alexis Sanchez, according to Sky Sports.
The initial £50m bid was rejected, but Sky Sports understand that Manchester City still want to sign the player and remain committed to a cash only deal.
No sum has been mentioned in terms of an improved offer, other than to say they still want to sign the player.
Manchester City have bid £50m for Arsenal forward Alexis Sanchez as they try to sign him before Thursday's transfer deadline.
What is more, according to BBC, Guardiola is understood to want to bring in Sanchez, 28, as a straight purchase, but Arsenal would like City forward Raheem Sterling as part of the deal.