Wenger said: "It looks like Sanchez will not extend his contract".
He has been longing to join Manchester City for good reason.
The Chilean is now into the final six months of his contract, and is being targeted for a move this month by both Manchester United and Man City.
"If Manchester United bought Sanchez it would be a major-major signing", he said.
So whilst Manchester City remain favourites, Manchester United can not be discounted from pulling off a transfer coup not seen since... they stole Romelu Lukaku from under the noses of Chelsea last summer.
"But in relation to Alexis Sanchez, I don't say a word".
"Alexis Sanchez is well within his rights, as we know as players with contracts that are coming up or whatever, to sit tight".
If Sanchez ends up staying at Arsenal this month, which is very possible, City will fancy their chances of landing him on a free transfer at the end of the season. Sanchez is the subject of interest from Manchester United and Manchester City and while Wenger admitted Sanchez was likely to leave, the manager was more hopeful on Ozil. "At the moment I must say nothing is decided one way or the other".
"It's not a problem, it's not a problem", the former Scotland global said.
And Wenger, whose side travel to Bournemouth on Sunday as they return to Premier League action, admitted that the Chile global will only be allowed to leave if they can get a new signing over the line. I am focused on Liverpool.
Wenger knows that they cannot directly replace Sanchez, but there are players he wants who can help out.
"I don't question his passion when he's on the pitch, he wants to win, ' Wenger further added".
"But Henrikh is a very good player, he played in our last game and, assuming he trains normally at the weekend, he will be selected to play on Monday".