Alexis Sanchez's transfer to Manchester United confirmed as Henrikh Mkhitaryan moves to Arsenal – full story

Inside story: Mourinho's assurances and the real reason Sanchez chose United

Manchester United have confirmed the signing of Alexis Sanchez from Arsenal, with midfielder Henrikh Mkhitaryan moving in the other direction.

The 29-year-old arrives at United on a four-and-a-half-year deal worth around £14m-a-year, while Mkhitaryan signed a three-and-a-half-year contract with the Gunners.

The complicated swap deal sees Sanchez move to Old Trafford in exchange for the Armenian and on wages of more than £300,000-a-week – something that seemed laughable as little as 10 days ago when Manchester City were expected to sign the Chilean with no competition.

However, they pulled out over Sanchez’s wage demands and agent fees while United offered more and the replacement that prevented Arsenal cashing in on him in the summer.

Mkhitaryan was understood to be tentative about joining the Gunners but a progression in talks over the last 48 hours has accelerated the move, with the Armenian set to pocket around £180,000-a-week.

In a statement, Mkhitaryan said: “I’m very happy that we could finish this deal and I’m very happy to be here. It’s a dream come true because I’ve always dreamed of playing for Arsenal. Now that I’m here, I’ll do my best for this club to create history.”

Arsene Wenger added: “Henrikh is a very complete player. He creates chances, he defends well, he can absorb distances and he’s very committed as well. I must say he’s a player who has all the attributes.”

Jose Mourinho has claimed Sanchez is among the world’s best as he confirmed the Chilean’s signing for United.

“Alexis is one of the best attacking players in the world and he will complete our very young and talented group of attacking players.

“He will bring his ambition, drive and personality, qualities that make a Manchester United player and a player that makes the team stronger and the supporters proud of their club dimension and prestige.”

Speaking about his transfer, Alexis Sanchez said:

“I am thrilled to be joining the biggest club in the world. I have spent three-and-a-half wonderful years at Arsenal and I bring with me very positive memories of that great club and its fans.

"The chance to play in this historic stadium and to work with Jose Mourinho was something I could not turn down. I am very proud to be the first Chilean player ever to play for United’s first team and I hope I can show our fans all around the world why the club wanted to bring me here.”

And the Portuguese also reserved praise for the departing Mkhitaryan, whose unhappy 18 months in Manchester is over but who played a crucial part in last season’s Europa League victory, scoring in four consecutive knockout games.

“I would like to wish Henrikh all the success and happiness that I am sure he is going to get. He is a player that we will not forget, especially for his contribution to our Europa League victory.”