• Arsenal winger Alexis Sanchez.

Arsenal winger Alexis Sanchez. (Photo : Getty Images)

Reports are out that Spanish powerhouse Real Madrid is preparing a £37 million bid for Arsenal winger Alexis Sánchez this coming January with a package that includes their own attacking midfielder, Denis Cheryshev.

Caught Offside indicated that even with such a mouth-watering offer, Arsene Wenger is likely to reject the deal as Sánchez had been in top form recently for the Emirates residents.

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After starting the new season somewhat lackadaisically, the 26-year old Chile international had suddenly exploded for six goals in the Gunners' last three Premier League games, and a total of nine in        his last five appearances including those for his country, showing everyone that he is indeed one of the top elite scorers in the world right now.

Rumors linking him to the rich Bernabéu side had been at its loudest in recent weeks as Rafa Benitez is said to be keen on making new Galactico signings come the winter transfer window as he is also open to selling some of his most expensive players.

Metro reported that Sánchez declared his happiness with the Holloway, London side despite the lure of more money with Real.

"I'm very happy at Arsenal, I don't think about leaving," the Chilean said. "I always want to be the best at everything I do. I'm never happy with what I do, I always want to give more."

There were also speculations that the former Barcelona star will be given a contract extension by Arsenal next season that would make him the team's highest-paid player. If Wenger's plans all fall into place, then do not expect Sánchez to leave Spain so soon.