The Dutch giants want to bring in another centre-back before the transfer window closes and have been exploring a deal for Sanchez.
Tottenham’s price tag for the Colombian has proven to be an issue for a number of teams and, according to Dutch daily De Telegraaf, PSV are looking elsewhere.
They are now looking to loan Egan-Riley from another Premier League side in the shape of Burnley.
The 20-year-old joined Burnley in the summer of 2022 from Manchester City, but has struggled to make an impact at Turf Moor.
He had a spell on loan at Scottish outfit Hibernian in the second half of last season, where he played regularly.
Now a move to the Netherlands with PSV could be on the agenda.
The switch would hand Egan-Riley the chance to play in the Champions League, with PSV in the competition’s group stage.