English Premier League club Arsenal refused to sell striker Alexis Sanchez in the summer, but may now spend a whooping £70million to get his replacement when he finally leaves in 2018.

Sanchez is in the final year of his contract at Emirates and has refused to extend his stay.

EPL rival Manchester City were close to signing the Chilean for a fee believed to be £65million on transfer deadline day, but manager Arsene Wenger refused to let the player go as he could not get a replacement.

Following the drastic change in the transfer market, Wenger admitted that Arsenal will need to pay £70million to get a comfortable replacement for Sanchez.

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Sanchez may leave in January.

"You take Sanchez into the final year of the contract and you sacrifice £60m-£70m income and at the end of the season, you will have to buy somebody for that amount of money.

"It has a huge price. At some stage, you have to make a decision, you have to sacrifice."

"Today, we have 107 players in England who go into the final year of their contract. It is a complete rotation and change in the way people see their career," he told beIN Sports.

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