According to The Sun, Pellegrini’s new club Hebei China Fortune are ready to offer Sanchez £500,000-a-week.
As mentioned earlier today, several national newspapers are reporting Arsenal offered Sanchez £180,000-a-week to extend his contract recently.
Talking are “ongoing” but the Chilean reportedly wants £250,000-a-week.
Pellegrini already has former Arsenal star Gervinho, 29, and Argentine Ezequiel Lavezzi in his Chinese Super League squad.
Lavezzi, 31, is on an eye-watering £493,000 every week.
Pellegrini added: “Step by step Alexis has led a career with a lot of intelligence.
“He started in South America, always playing for big clubs.
“After that he played in Italy, Spain and now in the Premier League, which is the most powerful in the world.
“Alexis has always done things the right way. Chinese football is growing every day and the interest in going there is increasing all the time.
“Maybe at this moment it is difficult to get elite players to leave Europe for China.
“But once they understand the environment and the great project that is building there I am sure many will come over.”
