The 22-year-old Chilean international is City's top summer transfer target but Roberto Mancini appeared destined to miss out on the star's signature after he held talks with the European champions who had agreed a fee thought to be in the region of ?27m.
On the move: Alexis Sanchez could be heading for Manchester City after all following a late hitch in his move to Barcelona
But a dramatic turn of events has re-opened the door for a mega money move to City after Barca winger Jeffren - a makeweight in Barca's move for Sanchez - revealed he does not want to join the Serie A club.
'It is clear that I do not like the idea of leaving Barcelona for Udinese,' the 23-year-old told Spanish radio station RAC1.
'I have spent the past seven years at Barcelona and it was my dream to succeed here.
'I don't think I will make it here, though, and it looks like I have to start looking elsewhere.'
Hold up: Udinese star Sanchez had hoped to resolve his future ahead of the forthcoming Copa America
According to reports in Italy, City immediately swooped with a significantly proposal with Sky Italia claiming a ?35m offer including ?4m in bonuses and a vastly better wage on the table for the player.
Manchester United are also interested in sealing a deal for highly-rated Sanchez but it is understood they would not be prepared to match City's huge offer.
Sanchez had been released by Chile to travel to Spain to thrash out terms of his departure from Udinese earlier this week but that was before Jeffren snubbed to idea of an exchange switch to Italy.
Waiting game: Chile are reluctant to lose Sanchez during the Copa America and want a deal to be pushed through this week
With Sanchez set to represent the South American country in the Copa America time is running out to finalise a move before the start of the tournament on July 1.
Chile boss Claudio Borghi is reluctant to release him during the competition, however, so the player's future is set to be determined in the coming days with City now back in contention.
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Source: Daily Mail
Source: Daily Mail