One potential option that the Frenchman should consider is offering the former Barcelona man to Manchester United in January as part of a swap deal for Anthony Martial, even if Arsenal have to sweeten the deal with a cash figure.
The 21-year-old who joined from Monaco two years ago under Louis Van Gaal for £56million has made a strong start to the campaign scoring five goals with five assists in nine appearances.
Given Sanchez's importance to the club, Wenger on the look out for another high calibre calibre forward, and, according to Transfer Market Web, French worldwide and Manchester United star Anthony Martial is on the shortlist.
Mourinho is said to be a very keen admirer of Rakitic's abilities and claims are being made that the United boss will offer up the services of Martial in order to land the Croatian worldwide. Additionally, Anthony Martial has also been linked recently in transfer rumors with Barcelona.
There was talk of a possible switch to Sevilla last season, but Mourinho quickly poured cold water over a move to La Liga.
With Romelu Lukaku, Marcus Rashford and Jesse Lingard pushing Anthony Martial down the pecking order it is believed that Mourinho is ready to allow his player to leave in order to boost the holding midfield position at Old Trafford.
And if a swap deal involving Sanchez and Martial was completed, it could have huge ramifications on the outcome of the Premier League title race.
"I see a great improvement in the person [Martial], in the mood, in the face, in the body language".
Speaking of Martial last month, Mourinho said: "If you want just a word [to describe Martial], it's "happiness". He starts matches, he tries to do well.