It has emerged that the Chilean was available for that tiny price back in 2006.
Udinese and Watford owner Giampaolo Pozzo has revealed that Arsenal – and all the other big clubs in Europe – could have landed Alexis Sanchez for just £2m.
This was back in 2007 however, when the Serie A side moved quickly to beat the rush and bring the then 18-year-old Sanchez to Europe for his first taste of football outside of South America.
The Chilean had been impressing at Cobreloa in his home nation when Udinese spotted the potential of the young forward and Pozzo believes he made the right decision in moving to Italy.
“The big clubs, not just English, had sensed the deal but we were good at getting the player first when he was not yet known,” the 73-year-old was quoted by the Sun.
“He wanted to sign for us because, firstly, he wanted to come to Europe and then because we were the first to believe in him.
“Alexis was smart to understand that it was necessary to progress before arriving at a big club as it is natural for that to happen after. And it would be a better time to be at a club like ours that has space for young people.
“His choice was rewarded because he then went to Barcelona – which at that time was the strongest team in the world. And he is now at Arsenal which is another great club where he is doing very well.
“Our scouts in South America saw his unquestionable technical qualities. But, from when we started following him, he also had a personality that was out of the ordinary for a boy of that age.
“When we took him, we knew we had a talent on our hands and that’s why we decided to establish for him a program of gradual growth before taking him to Udinese.”
Sanchez was loaned back to Chile initially with Colo Colo, before spending time with River Plate in Argentina and then impressing for three years with Udinese before a switch FC Barcelona beckoned.
The attacker joined the Gunners in the summer of 2014 for £35m and has since greatly impressed with 18 goals in 30 appearances in all competitions.