Paul Merson tells Arsenal to sell Alexis Sanchez to Manchester City this summer on one condition

Arsene Wenger has been insistent that the Chilean won't be sold this summer but Merson would countenance a sale, but only if City send Sergio Aguero back in return

It looks increasingly likely Alexis Sanchez will leave Arsenal (Getty)

Paul Merson has told Arsenal to sell Alexis Sanchez to Manchester City - but only if they get Sergio Aguero in return.

The Chilean, who scored 30 goals in all competitions this season, is yet to put pen to paper on a new deal with the Gunners despite being offered lucrative new terms by the club.

Sanchez is understood to be holding out for upwards of £250,000 per week with a number of clubs, including City, interested should he not decide to stay at the Emirates.

Manager Arsene Wenger has been insistent that the 28-year-old will not be sold this summer but club legend Merson would countenance a sale, but only if City would be willing to send their own top scorer back in return.

"The owner of the club saying he's not going is dangerous because Pep might want Sanchez and I'd take Aguero all day long at Arsenal," he told Sky Sports.

"That won't sit well with [Pep] Guardiola because he likes to be in control."

Arsenal have already started their summer business confirming the capture of Sead Kolasinac from Schalke on a free earlier this week.

And Merson's fellow former Gunner Charlie Nicholas wants to see his old club build on that early acquisition with a busy window.

"He needs another top midfield player with Santi Cazorla out," he added. "Raphael Varane or Virgil van Dijk would be ideal at centre-back and Alexandre Lacazette is the striker I wanted and hopefully the Atletico Madrid transfer ban means we've got a chance.

"We need a solution to Alexis Sanchez and Mesut Ozil now. I think Ozil will stay but Sanchez will probably go and losing 30 goals is really damaging."