The clock is ticking on Sanchez’s Gunners career with under 12 months before he can walk out of the Emirates for free
The Chile star is set to miss the first two games of the season after picking up an abdominal strain.
Alexis Sanchez could be on his way out of Arsenal next summer
Alexis Sanchez has had a long-running contract dispute with Arsenal
But a bigger concern for Wenger is that Sanchez is yet to sign a new deal – despite the Gunners boss declaring his star man is going nowhere this season.
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The clock is ticking on Sanchez’s Emirates career with under 12 months before he can walk out of the Emirates for free.
But with PSG now emerging as Real Madrid’s major rivals for Kylian Mbappe’s signature, Paris Saint-Germain’s interest in Sanchez could be dropped.
Wenger reckons he may be able to convince Sanchez to stay.
The Gunners boss said: “I think if you read the French papers they are on Mbappe’s case to finish their transfer market.
“That’s what I read in the papers and on my side I had no contact at all with Paris Saint-Germain (about Sanchez).
“It’s always possible when players are in final year of contract (to renew)
Sanchez’s future could hinhe in where Kylian Mbappe moves
Sanchez had a wave at Arsenal fans as their team won the Community Shield
“We will try to extend the contract. There’s no reason why we shouldn’t do it but we are not there yet.”
Sanchez appeared to be firmly in PSG’s sights after being spotted in the French capital before he returned to training last week.
PSG have already landed Neymar for £198million and may have to bank almost £100m in sales by the end of January to comply with financial fair play rules.
And that figure would go up even further if they were to sign sign Mbappe AND Sanchez.
Wenger has had talks with Sanchez and said the club will not accept any bids for him and he has to see out his agreement.
Manchester City have been major potential suitors for Sanchez and Bayern Munich also showed interest before dropping their chase earlier this summer.
Sanchez was in the stands alongside contract rebel Mesut Ozil at Wembley
The club have been determined to avoid a repeat of the contract situations with Robin van Persie and Samir Nasri.
The two players left for the Manchester United and Man City repsectively with a year to go on their deals.
Wenger has been given the thumbs-up by the Arsenal board over his stance and has been told that the club do not need the cash.
Sanchez was on the sidelines as Arsenal beat Chelsea on penalties at Wembley.
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Alexis Sanchez watches on as Arsenal lift the Community Shield at Wembley
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Arsene Wenger says Alexis Sanchez is staying at Arsenal