It has to be this. Whilst any city fan would want Sanchez to play for us, I don't think we the fans or the club are showing signs of being desperate to sign him at any price, under any circumstances. If he comes fine, if he doesn't fine. We see the Alves situation being dragged up as a parallel to what is happening here, and maybe it is, but we have adapted and flourished without him. Similarly if Sanchez comes then we have a very good addition to our squad, if he doesn't then we carry on to the end of the season and bring in a young up and coming striker to partner Jesus in the long term and continue to rely on Kun to score the goals in the meantime while the new guy beds in and comes up to speed, much as Jesus is now. Sane, Sterling and Bernardo will continue to develop and become world class while youngsters from the academy and elsewhere will follow them to maintain the quality of the squad.
Personally I prefer us not to pander to any one player at the expense of team stability, we have a great spirit in the squad, which is for me, a great part of our success and that has to be maintained at any cost.
All in all, not bothered if he comes or if he doesn't, all it will mean is that our transfer strategy will have to be tweaked to accommodate the changed circumstances come the summer.