Manchester United and Arsenal have agreed a swap deal which will see Alexis Sanchez finally swap the Emirates Stadium for Old Trafford and Henrikh Mkhitaryan move in the opposite direction, according to the Guardian.

The construction of a straight swap is believed to have delayed the deal but with United valuing Mkhitaryan at £35million, the fee Arsenal were seeking for Sanchez, the two clubs eventually came to an agreement.

Sanchez is expected to sign terms on a contract which will make him their highest-paid player with reports suggesting he could earn £500,000 per week.

Following the Gunner’s 4-1 win over Crystal Palace on Saturday, boss Arsene Wenger confirmed the Chilean was undergoing a medical in the north west of England.

“I didn’t take him because there is question of him moving to Manchester United and you cannot drive up north and as well play football,” he said. “That’s difficult so that’s why I decided to leave him out.”

Mkhitaryan was left out of the squad for United’s 1-0 win over Burnley with the Armenian playmaker in London on Saturday night alongside his agent Mino Raiola to complete a medical of his own.