The Chile international has been linked with a summer exit, and with less than a year remaining on his contract, he could leave for free at the end of the season. Wenger has admitted the situation is not ideal, though the manager is ready to risk keeping Sanchez around.
"It is a financial sacrifice," he said, per Simon Collings of the Daily Telegraph. "It is a sacrifice that you have to calculate, how much it costs. If you let the player go and you buy somebody you spend maybe more than you lose. And as well if you extend the contracts it costs you maybe more than you lose when you keep the player."
As noted by WhoScored.com, the Chilean is a creator and scorer of goals on a consistent basis:
For Wenger and Arsenal, that void would be tough to fill. Even with a potential £60 million recouped for his sale, finding someone who blends such potency in the final third with aggression and infectious enthusiasm is almost impossible.
It's why keeping Sanchez for now makes sense for Arsenal. The club may yet convince him to sign a new contract, and they stand a much better chance of challenging for major honours with him in the XI.
Some Gunners fans may be disappointed to hear Wenger speak so candidly about a possible departure for the team's star man. But those who frequent the Emirates Stadium will cherish this world-class talent while they still have him in the coming months.
Everton Give Up on Olivier Giroud
According to Phil Kirkbride of the Liverpool Echo, Everton have decided to end their pursuit of Arsenal forward Olivier Giroud, with the player set to remain at the Emirates Stadium.
Kirkbride noted the French forward was a priority target for the Toffees earlier in the transfer window. "Wenger had been willing to let the 30-year-old leave the Emirates Stadium, but Giroud wants to fight for his place with the Gunners," he wrote.
Giroud could find minutes hard to come by in north London this season following the arrival of Alexandre Lacazette, but he gives the Gunners a different type of option in the final third.
That was on show in the opening game of the Premier League season, when the France international rose from the bench and headed home a dramatic winner in a 4-3 win over Leicester City. As noted by BBC Sport, he is difficult to contain when introduced into games later on:
Everton have been big spenders in the transfer window and made another major acquisition with the arrival of Gylfi Sigurdsson on Wednesday. However, it appears Giroud will opt against being part of the Toffees' recruitment drive.
What role he plays in Wenger's squad this season is unclear, with Lacazette, Sanchez and Danny Welbeck all vying for similar places in the side.
Still, Arsenal fans will be delighted if Giroud remains an Arsenal player after the transfer deadline, as he brings a vital variety to the squad.