​Arsenal are reportedly looking at Bayer Leverkusen winger Leon Bailey as a potential replacement for star man Alexis Sanchez who could soon leave the club, claims a report.

Sanchez is in the final year of his contract at Arsenal and so far, has not shown any inclination towards signing a new deal. Arsenal, who will now lose him for free at the end of the season, could try to offload him in January to recoup some funds.

Arsene Wenger is scouting the continent for potential replacements for the Chilean and it seems like he has taken a liking to Bailey who has been starring for Leverkusen in the Bundesliga.

According to the ​Daily Star, the Frenchman has identified Bailey as a replacement for Sanchez and is ready to move for the Jamaican who is close friends with sprinter Usain Bolt.

Bailey has been in top form for Bayer Leverkusen this season and has scored eight goals in all competitions this season. The 20-year-old possesses raw pace and has also shown his composure in front of goal.

Premier League clubs Chelsea and Manchester United have also been monitoring Bailey but it looks like Arsenal are leading the race for the £30 million rated attacker.

The Gunners could sign Bailey as early as next month, provided Sanchez departs. However, a move in the summer looks likely for both parties. More developments are expected in the coming weeks.