It is not secret in the footballing world that Alexis Sanchez's days at Arsenal are coming to an end.

The Chilean superstar - who was the Gunners' Player of the Season in 2016/17 - is in the last year of his current deal, with Manchester City and Paris Saint-Germain sniffing around the versatile forward.

Pep Guardiola's side had a £60m rejected for him on the final day of the summer transfer window, with Arsene Wenger adamant that he was better off keeping Sanchez rather than offloading him for an enormous fee.

In hindsight, it probably wasn't his wisest decision, but at least the Chilean has scored some crucial goals this season, most notably his match-winning brace in the 3-2 win over Crystal Palace.

January represents the last chance for Arsenal to squeeze any potential fee for Sanchez but in doing so, they lose one of their only world-class players.

Still, the club are at least preparing for his departure by identifying his replacement.

ARSENAL TURN TO SOUTH AMERICA

According to the Independent, Boca Juniors starlet Cristian Pavon the man in question, with Manchester City and Juventus also chasing the Argentine International.

However, it is the Gunners who are the frontrunners for his signature, having already commissioned background checks on him.

Amazingly, Pavon would be available for as little as £20m, with Boca only demanding that several clauses be inserted into the deal.

COPA LIBERTADORES IS THE KEY

If he can help lead the club to glory in the Copa Libertadores, they would be more than happy to cash in on the exciting wide man. But, if he performs well, some of Europe's elite could come calling.

Pavon has enjoyed a very good start to the season in the Primera Division, scoring three goals and recording five assists in just 12 appearances.

He may not be the household name that every Arsenal fan has been craving to replace Sanchez but the Argentine could be a very astute purchase, one that the rest of Europe is also keeping an eye on.