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The Arsenal soccer player, Alexis Sanchez, has agreed to personal terms on a contract that will make him Manchester United's highest-paid player on yearly wages of £14 million after tax, according to reports on Wednesday.

Sanchez is reportedly on the verge of joining United after Jose Mourinho's side made a blockbuster offer that eclipsed the interest of the Premier League leaders Manchester City. Mourinho admitted on Monday that his side "have a chance" to sign the Chile forward in the January transfer window, with Manchester City understood to have now exited the race for the 29-year-old due to the cost involved.

According to the Daily Telegraph, United have offered Sanchez a four-and-a-half-year contract which would make him the top-earning soccer player at the club. The Telegraph reported that the transfer fee is £30 million, with £20 million signing-fee and an extra £10 million agent's fee that is likely to be involved. All this means United could face an overall outlay of £150 million, should they secure a deal for the former Barcelona soccer player.

United's bid to bring Sanchez to Old Trafford depends on Henrikh Mkhitaryan moving the opposite direction, according to the Armenian's agent, Mino Raiola. Mourinho left the 28-year-old midfielder out of his squad to face Stoke on Monday due to "doubts about his future".

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