Manchester City, Manchester United and Chelsea have all been linked with the Chile international at various stages over the summer, while Inter Milan and Napoli were also credited with an interest.
European champions Barca always looked to have the edge over their rivals, with Spain being Sanchez's preferred destination.
And now Quique Pina, Udinese's Spanish representative, has confirmed that the Catalan giants are on the verge of completing the transfer for the sought-after 22-year-old.
Udinese have placed a 50million euros (?44.6million) price-tag on the head of Sanchez, who is currently on international duty at the Copa America.
The deal is understood to be cash only, with no players making the move from the Nou Camp to Serie A as part of the transfer.
Pina, who is also president of Granada, said: "Alexis has decided to play in Spain and now the matter is practically closed."
Source: Team Talk
Source: Team Talk