Malcom lined up to replace Red Devils-bound Sanchez
Manchester United and Arsenal are still sorting details of the prospective transfer of Alexis Sanchez as a deal inches closer.
The issue between the two sides appears to be over whether the Old Trafford club will pay the full £35m fee or send out of favour Henrikh Mkhitaryan to the Emirates in a part-exchange.
Mkhitaryan (28) was left out of United's matchday squad to face Stoke City last night, and a move away from Old Trafford seems almost certain, whether that be to Arsenal or to his preferred destination of former club Borussia Dortmund.
On the other hand, it is now almost certain that Chilean Sanchez will go to United after Manchester City ended their interest in the flair midfielder - but Chelsea caused a stir last night when they entered the race to sign the striker.
Mkhitaryan's role in the move is doubtful too, as there remains a considerable difference in positions on his wage, while Arsenal themselves are looking at Malcom of Bordeaux as a potential replacement.
Arsene Wenger has also had a long-term interest in Anthony Martial, but United sources say the club would not even consider including him in the transfer.
If a deal for Mkhitaryan cannot be done, United are believed to be willing to pay the full £35m fee for Sanchez.
In terms of a replacement for the outgoing Sanchez, Arsenal are aiming to beat Tottenham Hotspur to the signing of Bordeaux's Brazilian star Malcom.
Both north London teams have bid for him this month, but Spurs were only willing to offer £31m for his signature.
Bordeaux want £44.5m for Malcom and, while Arsenal aren't willing to pay that much, they're happy to pay up to £40m for the man they have identified as Sanchez's replacement.