According to Italian daily Corriere Fiorentino, West Ham are working on a deal to sign the 32-year-old defensive midfielder and are close to getting a deal over the line.
"I made a decision to come here because, first, it is the Premier League, second, it's a handsome club and the fans are always helping the club and, third, for me it's an unbelievable opportunity and an wonderful project the club are leading, being ambitious and keen to achieve good things", said Sanchez.
Perez joined the Gunners in 2016 for £17.1m from Deportivo, making 21 largely cameo appearances in 2016/17 before he was sent back to the La Liga side.
West Ham have confirmed the signing of Colombia global midfielder Carlos Sanchez from Fiorentina.
The Hammers found a unique way to announce the signing of Perez as they used their big screens at the London Stadium to unveil the player.
Sanchez, who has over 80 caps for his country, spent past year on loan at Espanyol.
Having been included in Arsenal's pre-season tour of Singapore it appeared Perez was potentially going to be given a fresh start under new head coach Unai Emery.
'I also want to give my thanks to my teammates and to the staff of this club for giving me the opportunity to make my debut in one of the best leagues in the world and win the FA Cup.
'I chose to come here because, first, it is the Premier League, second, it's a handsome club and the fans are always helping the club and, third, for me it's an incredible opportunity and an fantastic project the club are leading, being ambitious and keen to achieve good things.
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