As noted by Olley, clubs outside of England are able to negotiate terms with Sanchez directly with a view to a pre-contract being signed and a free transfer in the summer.
Former Manchester United defender Evans has been linked with a January move to the Emirates Stadium, with Manchester City also reported to be interested.
Alexis was left out of Arsenal's squad for the trip to the City ground.
A failed deal for Thomas Lemar killed the chances of Alexis moving in the summer, and with Liverpool the front-runners for the Monaco man now, Arsene Wenger has turned his attention to the Leicester City star.
Sanchez has made clear his intention to join Pep Guardiola's side and discussions over a proposed January move are now underway.
"The two clubs have held talks in recent days and the Blues are cautiously optimistic of getting a deal done, despite the Gunners' £35 million asking price", it's said in the report, with Arsenal said to be "resigned" to losing their No. 7 mid-season. The Chilean global has been linked with PSG, Bayern Munich and even Real Madrid over the past few months, but now the Gunners' top flight rivals Manchester City are set to make a significant bid.