Sanchez, whose contract with the Gunners expires in 2018, has been offered a lucrative deal (Picture: Getty)

Alexis Sanchez is moving closer to leaving Arsenal this summer after his agent began talks over a summer transfer, according to reports in his native Chile.

The 28-year-old has had an astonishing season for the Gunners, scoring 29 goals in all competitions, but it was not enough to help the side secure a top-four finish.

The Chilean previously admitted that he needed to be playing Champions League football, and he has not wasted any time in looking for a new club who can provide that.

According to El Mercurio, Sanchez’s agent, Fernando Felicevich, has travelled to Bavaria to begin talks with Bayern Munich.

Arsenal lost 10-2 on aggregate to Bayern in the Champions League this season (Picture: Getty)

The Bundesliga champions are ready to offer £50 million for Sanchez and have already drawn up a contract worth £11m a season, significantly more than he currently earns.

The report suggests Arsenal are happy with the valuation of Sanchez given that he only has one more year to run on his current contract with the club, allowing him to negotiate a free transfer in December.

Chile team-mates Sanchez and Arturo Vidal share the same agent (Picture: Getty)

Pep Guardiola has not given up hope of persuading Sanchez to join Manchester City, though Arsenal would prefer he was sold abroad.

Arsenal players nearing the end of their contracts

2018

Mesut Ozil
Alexis Sanchez
Aaron Ramsey
Alex Oxlade-Chamberlain
Per Mertesacker
Kieran Gibbs
Carl Jenkinson
Santi Cazorla

2019

Theo Walcott
Olivier Giroud
Petr Cech
David Ospina
Danny Welbeck
Nacho Monreal
Mathieu Debuchy
Gabriel Paulista

It could be difficult to persuade him, though, with Bayern offering his best route to both a league title and Champions League glory, while he would also be reunited with Chile team-mate Arturo Vidal.

Sanchez enjoyed a brilliant campaign, scoring 24 goals and recording 10 assists in the Premier League, and, if he is leaving Arsenal, will hope to end on a high by lifting the FA Cup on Saturday.

MORE : Arturo Vidal reveals Bayern Munich have asked him about Alexis Sanchez transfer move