Chelsea had recently made a bid for Bailey which was supposed to be in the region of £22 million. But Bayer swiftly rejected that bid as they right now have no intentions of parting with the winger.
Now though according to a report in the Mirror, Arsenal have also joined the race to sign the 20-year-old Jamaican.
Wenger is set to loose both Sanchez and Ozil at the end of the season and now he feels that the youngster will be an apt replacement. If Arsenal are unable to sell off Sanchez and Ozil in January then they will move out of the Emirates for free at the end of the campaign. This means that the Gunners will not get a single penny to fill up these positions. In such a scenario we think that Bailey will be the perfect buy.