Manchester United are closing in on a deal for Alexis Sanchez and could announce the signing as early as today.

This is according to the Independent, who understand that the deal was ’75 per cent completed’ as of Monday night after Manchester City pulled out of the race for the want-away Arsenal forward.

Chelsea have reportedly made a late move for the Chile international but, as things stand, the player will sign for the Red Devils.

The Independent add that United are willing to pay Arsenal £35 million for Sanchez, who can leave the Emirates Stadium as a free agent when his contract expires this summer.

However, Arsenal now want £30 million plus Henrikh Mkhitaryan, who has struggled under Jose Mourinho this season.

Mkhitaryan would reportedly prefer a move back to Borussia Dortmund while Arsenal aren’t prepared to pay the Armenia international the £200,000-a-week he currently earns at Old Trafford.

These negations with Mkhitaryan are currently delaying Sanchez’s move to Manchester and there is a chance that the deal won’t be finalised until later in the week.

Sanchez to become United's highest-paid player ever

It’s also believed that United will make Sanchez the highest-paid player in the club’s history.

Despite the fact he turned 29 last month, United are set to pay the South American an eye-watering £400,000-a-week - £60,000-a-week more than Man City were prepared to offer.

This means that Sanchez will cost United £100 million in total.

United have decided which shirt number Alexis will wear

Perhaps unexpectedly, United will also hand Sanchez the club’s most iconic shirt number.

The Independent add that Sanchez will take the prestigious number seven shirt, which was vacated by Memphis Depay last January.

United fans will be hoping that Sanchez produces more moments of magic in the No. 7 shirt than the Dutchman managed.

It could be argued that Sanchez is the player most benefitting of the No. 7 shirt - made famous by the likes of George Best, Eric Cantona and David Beckham among others - since Cristiano Ronaldo left the club back in 2009.

A player of world-class talent, Sanchez will surely relish the chance to add his name to that esteemed list of United legends.