are planning an audacious move for Arsenal's .
The Toffees have started the new campaign in awful form after a significant summer of spending, but owner Farhad Moshiri wants to keep splashing the cash in January, according to .
He would be willing to spend £30million on the contract rebel if Arsenal decide to take the money in January - his contract expires at the end of the campaign.
It might be difficult to tempt him to Goodison Park, as Sanchez has identified Champions League football as a priority ahead of his next move.
As a result, a move to Manchester City, who tried to push through a deal on deadline day, remains more likely.
Everton scouts have put together a list of alternative options but Moshiri is keen to bring in another big name after snapping up Wayne Rooney in the summer.
He feels as though an improvement in the team's current form would allow them to bring in players of Sanchez's caliber.
The owner has already tried to make moves for big names like Olivier Giroud and Diego Costa, who left Chelsea for Atletico Madrid after falling out with manager Antonio Conte.
Sanchez might be keen to see out the rest of his contract at the Emirates.
Caretaker Everton boss David Unsworth has a chance to prove his credentials against Leicester City on Sunday afternoon.
-Dailymail