In a move reminiscent of Robin van Persie's betrayal back in 2012, the Chilean has reportedly agreed personal terms ahead of a £30 million move.
Arsene Wenger claims a resolution is imminent after he dropped Sanchez for Sunday's trip to Bournemouth.
"He (Sanchez) is being vague at the moment," said the Frenchman. "His situation is not completely decided one way or the other, so I left him at home."
"Don't read too much into it, because even I don't know really what way it will go."
Manchester City and Liverpool are also in the race for Sanchez but United have the upper hand because they're prepared to meet Arsenal's demands.
Should Jose Mourinho manage to land the 29-year-old, one man who will be delighted yet a little embarrassed is Rio Ferdinand.
Speaking on BT Sport on Saturday, Ferdinand said that Sanchez would be better off joining City than his former employers.
But now everything has changed and in light of Wenger dropping Sanchez, Ferdinand has given his take on the situation on Twitter.
In the tweet below, Ferdinand explains that he would love to see Sanchez join United and that he will personally direct the Chilean to Old Trafford to help push a move.
Naturally, United fans loved Ferdinand's tweet and have forgiven him for suggesting Sanchez should join City instead.
MAN UTD FANS REACT
FERDINAND'S UNITED-CITY CLAIM
"I am going to be honest, if he has got an option to go from Arsenal to go to Manchester City or Manchester United, as a footballer who wanted to win trophies and would judge myself based on trophies being won, at the moment Manchester City looks like the place to go for him in that respect," is what Ferdinand said on Saturday.
"They are top of the league, they are going to win the league this season, they are in the Champions League, they are looking like they will be in the final for the League cup, the FA Cup as well potentially. So he has got more opportunities to win trophies there."
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