Arsenal manager Arsene Wenger believes a swap deal involving Alexis Sanchez and Manchester United's Henrikh Mkhitaryan could happen in the next 48 hours.
United have emerged as favourites to sign the Chile international after Manchester City reportedly ended their interest due to the demands of the player and his agent.
Mkhitaryan, who has fallen out of favour under Jose Mourinho at Old Trafford, is expected to be part of the transfer and agent Mino Raiola claimed this week that Sanchez's move would not go ahead unless the Armenian agreed to join the Gunners.
Wenger says the deal could become finalised before Arsenal's clash with Crystal Palace on Saturday but admits there are still factors to be agreed.
"It's a story well documented so there's not a lot to add to that," he told a news conference.
"It could happen, it could not happen. It's at that stage. If it doesn't happen, he will play on Saturday.
"I've worked on transfers for 30 years. It's likely to happen but things can break down at any minute. As long as it's not over the line, these kinds of things are never guaranteed."
United have reportedly offered Sanchez a contract worth more than £400,000 a week but Wenger refused to criticise the proposed sums on offer at Old Trafford.
"It's up to Man United if they want to come out on the numbers," he said. "I respect Man United, they pay for their players by their own resources and it's up to them to decide how much to give to the players.
"They are very well managed financially and on the pitch and I don't have any problem with the money they are paying."
Wenger admitted he is a fan of Mkhitaryan and also suggested Arsenal will remain active in the transfer window regardless of the outcome of the Sanchez deal.
"I like the player," he said of Mkhitaryan. "We've played against him many times. He appreciates the quality of our games and the way we play football.
"Wages will not be a problem.
"This will be an exchange of players. Are we still on the transfer market after that? Yes."
Wenger claimed the Gunners "are not close at the moment" to a deal for Bordeaux winger Malcom but was less forthcoming on reported interest in Pierre-Emerick Aubameyang and Jonny Evans.
"This kind of thing is better when it's secret and you announce it when it's over the line," he said when asked about the Borussia Dortmund striker. "Apart from the deal of Sanchez-Mkhitaryan, which could happen, nothing else is close."
Asked about Evans, he said: "Nothing to add at the moment."
|Rose extends lead as Spieth slides|
|Prompt recovery, Salah – Ramos wishes Liverpool star well|
|Indians reliever Miller headed back to disabled list|
|Warriors´ Iguodala to miss game six against Rockets|
|I shouldn´t have done it – Ronaldo accepts future comments mistimed|
|Klopp: Liverpool behind Karius after Champions League horror show|
|Karius´ final blunders could destroy his career – Kahn|
|Zidane understands Bale frustration|
|Bale, Karius send Twitter into overdrive in action-packed Champions League final|
|Ronaldo: It should be called the CR7 Champions League|
|Zidane revels in Madrid´s third successive Champions League title|
|I lost Liverpool the game – Karius apologises for Champions League errors|
|Barcelona congratulate Champions League winners Real Madrid|
|Salah injury update: Egyptian FA calm World Cup fears|
|Ronaldo must stay with Madrid - Zidane|
|Champions League final player ratings: Bale stars as Karius shocker costs Liverpool|
|Cristiano is happy and will continue to be happy – Perez cools Ronaldo future talk|
|Win as a team, lose as a team - Liverpool captain Henderson not blaming Karius|
|Modric: Madrid have built dynasty like Bulls, Celtics and Lakers|
|Where would Cristiano go? - Benzema predicts Ronaldo stays at Madrid|
|We do not think about that - Zidane shrugs off Ronaldo exit talk|
|The divine right of kings: Zidane´s Real Madrid ride luck all the way to greatness|
|Klopp fears Salah will miss World Cup|
|Du Plessis returns, 17 uncapped players selected by South Africa|
|Bale demands playing time after Champions League heroics|
|Ramos: Ronaldo is indispensable to Real Madrid|
|It´s been beautiful to play for Real Madrid - Ronaldo hints at shock exit|
|Salah injury marked beginning of the end for Liverpool|
|Bale double makes Champions League history|
|Bale, Mandzukic & the best Champions League final goals|
|Real Madrid 3 Liverpool 1: Brilliant Bale undoes Klopp and calamity Karius|
|Jokanovic proud Fulham stuck to style in Wembley win|
|Real Madrid´s Carvajal limps out of final to prompt Spain fears|
|Broughton and Catalans continue fine form|
|Tearful Salah off injured in Champions League final|
|Leinster complete historic double by beating Scarlets|
|Lions snatch win from Stormers, Brumbies stun Bulls|
|Bale sits out warm-up ahead of Champions League final|
|Cavaliers´ Kevin Love ruled out of game seven|
|Pavlyuchenkova saves two match points to win Strasbourg epic|
|Benzema comparisons have made me stronger, says Giroud|
|Pakistan´s victory charge frustrated by Buttler and Bess|
|Aston Villa 0 Fulham 1: Cairney secures Premier League return|
|Isco preferred to Bale in Champions League final|
|Castres hold off Racing to book Top 14 final berth|
|McIlroy recovers late to share Wentworth lead with Molinari|
|Mancini perfect for new-look Italy, says Baselli|
|F1 Raceweek: Ricciardo set to vanquish Monaco demons|
|Goretzka confident over World Cup fitness|
|No pain, just cramp - Farrell allays injury fears|
|Sri Lanka to work with ICC after pitch-doctoring reports|
|Champions League Diary: Madrid fan´s brass act, Liverpool lap it up|
|FIFA dampens Platini´s ban reversal hopes|
|Germany unsure over Boateng´s full-training return date|
|Wyles bows out in style as Saracens regain Premiership crown|
|Fucsovics brushes aside Gojowczyk to claim first ATP crown|
|Not in my lifetime - Shilton will ´never forgive´ Maradona|
|Gutsy Thiem clinches Lyon title to build Roland Garros momentum|
|Martinez accuses Real Sociedad of blocking Manchester City move|
|LeBron focused on treatment, sleep ahead of game seven|
|Froome felt in control despite ´brutal´ Giro|
|Nadal to face lucky loser Bolelli after Dolgopolov withdrawal|
|Iniesta welcomed by thousands of fans at Vissel Kobe presentation|
|Monaco crash a ´brutal lesson´ for Verstappen|
|Ricciardo seals Monaco pole as Verstappen misses qualifying|
|Neuer will not be a World Cup back-up - Low|
|Froome on the brink of history with Giro glory all-but secure|
|No reward for Riske as Larsson claims Nuremberg Cup|
|Andreolli expects ´extraordinary motivator´ Emery to succeed at Arsenal|
|Verstappen misses Q1 after FP3 crash|