Arsenal have rejected a £50m bid from Premier League rivals Manchester City for forward Alexis Sanchez.
The 28-year-old, who scored 24 league goals last season, is out of contract next summer and is keen on a move away from the Emirates.
Arsenal have rebuffed all approaches for Sanchez, and it is understood they would like City’s Raheem Sterling as part of any deal before Thursday’s transfer deadline.
But Guardiola is believed to want the Chilean as a straight purchase.
Sterling, 22, has featured in all three of City’s games so far this season.
However he is not guaranteed a starting role at Etihad Stadium following the summer arrival of Bernardo Silva from Monaco.