I'd actually offer Alexis a renewal, but he's already lost a lot of guaranteed money to make the switch to Inter.
He makes something like 7.5m now and his contract runs until 2023.
I'd convince him that he has a role in this team and that he's very well rated, but our finances do not allow us to raise our competitive level when so much of our budget is locked on him.
I'd give him 12m over 3 years. That drops his salary at 4m from 7.5m, but it gives him a job until 2026 where he'll be freaking 37 and he's already lost a lot of his explosiveness. He won't be getting any offers from big clubs after the next season anyway and he wants to win titles.
It sounds like a stretch, but I honestly believe he's extremely happy at Milano and at Inter, he's not chasing money but wants to be respected. And let's be honest, we need him. He's the perfect supersub and will remain that over the next couple of seasons. And we end up paying him when he's not in a position to help much at the end of his career in 2025-26, not the first time this happened.
You keep saying Newcastle this and that. This is a guy that was depressed making 20 million a year at Manchester. He'll survive Newcastle and move for the money again? There's a reason he explicitly asked to be sold to a team that is chasing titles. He'd only be willing to go to Chelsea (London factor), PSG, Real Madrid, Barcelona, Atletico Madrid and Bayern, unless he wants to downgrade on the league quality and move to Ajax/PSV or Porto/Benfica. There's no other club for Sanchez in Europe and I don't see him demanding a return to River Plate or Chile, or to a Brazilian club. He likes it in Europe.