Arsenal transfer collapsed at the last minute with £92m target denied Premier League switch

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Arsenal once saw a £92million deadline-day transfer collapse at the eleventh hour, blocking Alexis Sanchez from securing a move to Manchester City . The summer window has officially opened in England and the Gunners will already be plotting some fresh signings.

Mikel Arteta is eager to strengthen his squad from a position of power following their Premier League success. The Arsenal boss will be hoping to sidestep any transfer sagas like the one nine years ago, which left Sanchez watching his City ambitions evaporate.

The Chilean striker had completed three seasons in north London and had caught the eye of Pep Guardiola in Manchester. Despite sustained efforts to keep hold of the attacker, Arsenal relented and provisionally agreed to a sale - but only if they secured a replacement star.

Monaco's Thomas Lemar was the target and the Gunners stumped up the £92m asking price for the versatile star. City then submitted a £55m bid for Sanchez, which included £5m in add-ons, and Arsenal were willing to allow Sanchez to leave.

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However, Lemar featured for France in a 4-0 victory over the Netherlands in a World Cup qualifier, which stopped the north London club from finalising the deal. The Guardian reported at the time that Arsenal claimed they ran out of time to finalise the big-money move, including Lemar's medical.

This deadline-day collapse ruined Sanchez's switch to City, with Guardiola's side convinced that the Monaco attacker had simply turned down a move to the Gunners. Arsene Wenger , who was still at the Arsenal helm in 2017, had tabled a fresh contract for the Chile international that would have elevated his wages to £300,000 per week - but Sanchez still walked away.

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Months on, the forward would pitch up at Manchester United in a straight swap deal for Henrikh Mkhitaryan. Sanchez landed himself a jaw-dropping package that, including bonuses, could reach as high as £560,000-a-week throughout his two-and-a-half-year stint at the club.

Despite pocketing a staggering £35m in wages during his time at United, Sanchez proved a major letdown at Old Trafford. He netted just five goals in 45 appearances, chipping in with nine assists before being shipped out on loan to Inter Milan a little more than a year after his arrival.

Meanwhile, Lemar joined Atletico Madrid a year after his protracted transfer saga with Arsenal and remains there to this day. Mkhitaryan proved a modest acquisition, though things could have been far worse had the Gunners splashed nearly £100m on the French international.

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Across eight years with the La Liga giants, Lemar has managed just 10 goals and 19 assists in 186 appearances. Atleti forked out £63m for his signature, a deal that has largely underwhelmed given his modest output in comparison to his appearances.