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#1 Chelsea's policy would be an issue
Even if Chelsea were able to negotiate with Sanchez and reduce his wage rate (just imagine that for a second), there is no way the club would change their policy of recruiting players.
The club has a policy of handing only a 1-year contract to every player who is 30 years or beyond.
No matter who the player is, the Blues have shown that they would not change their policy. Take a look at John Terry for instance. If that is the case, there is no way that the board would make an exception.
Sanchez mainly relies on his athleticism and given the fact that the player has hardly taken any breaks since 2010 (just 2 summers off), there is a very good chance that he would lose his charm in the near future.
So there is no way the club is going to end up with a player with as staggering a wage rate as Sanchez's with almost no resale value once his contract expires.
I would personally love to see him play for Chelsea. He can provide the charm and spark up front that has been missing. Not to forget, he can also play in the Champions League, which would come in handy when Chelsea face Barcelona next month.
But it is hard to ignore the 3 reasons mentioned above and it is probably owing to these factors that the board is not making a move for the 29-year-old.
