Arsenal manager Arsene Wenger says a deal sending Alexis Sanchez to Manchester United is "likely to happen" and that Henrikh Mkhitaryan would move to Emirates Stadium in exchange.

Manchester City ended its interest in Sanchez this week, leaving United most likely to sign the Chile forward.

Asked if Sanchez's move to Old Trafford was close, Wenger replied: "I've worked on transfers for 30 years, so it is likely to happen. But at any moment, at any minute, things can break down."

On Mkhitaryan moving in the opposite direction, Wenger said "if it's a possibility, it's because I like the player."

Wenger said it would be "an exchange of players, and I think one would replace the other."