Paris Saint-Germain will offer £10 million to Alexis Sanchez as part of a pre-contract deal with the player once he agrees to sign with them in January.
The Chilean international will not be signing a new contract with Arsenal and will be a free agent in the summer.
Manchester United, Manchester City, Chelsea, Real Madrid and Bayern Munich are all interested in signing the Arsenal star.
City almost signed Sanchez last summer for £30 million while PSG offered the player £275,000 per-week worth of salary but was not able to convince him to a move.
PSG are allowed to begin talks with Sanchez although the transfer window will open in January because as a non-English club, they are allowed to do so.
PSG are under extreme pressure to stay within Financial Fair Play rules after they spent £203.6m for Neymar and £165m for Kylian Mbappe.
Mbappe will be signed on loan deal to still be within FFP parameters. If they transfer Sanchez, PSG will still be following the FFP rules since the player would arrive on a free transfer.