Arsenal, Manchester United and the players’ agents have been involved in talks for days to thrash out a deal.
Sanchez had already agreed personal terms with Manchester United and is understood to be undergoing a medical tonight. The Chile international will be paid in the region of £450,000-a-week.
However the deal was dependent on Mkhitaryan moving in the opposite direction.
BBC journalist David Ornstein now reports that the Armenian has agreed to a move to the Emirates.
It’s claimed that all the paperwork was completed on Saturday and he will undergo a medical over the next two days.
The precise details of what Mkhitaryan has agreed with Arsenal are not yet known.
Speaking earlier today, Arsenal manager Arsene Wenger had confirmed that the deal for Sanchez was dependent on Mkhitaryan coming the other way.
‘It happens only one way if it…