With less than one year remaining on his contract at the Emirates Stadium, Sanchez appears destined to leave the Premier League side. From January, he can discuss terms with overseas clubs with a view to a free transfer in the summer.
Speaking to Foot Mercato (h/t Sport Witness) after his Brazil side beat Sanchez's Chile team 3-0 in World Cup qualifying for Russia 2018 on Tuesday, Alves was asked if the forward would be on his way to PSG.
"It's a possibility," he said of his former Barcelona team-mate. "He's courted by many teams. It would be nice if he joined us. I will always appreciate him and I will always wish him the best wherever he goes."
As reported by David Ornstein of BBC Sport, Manchester City wanted to sign Sanchez on the final day of the summer transfer window, with a deal agreed in principle for the forward. However, a potential £60 million transfer fell through as the Gunners were unable to identify a replacement for the Chilean.
Per OptaJoe, Sanchez is involved in much of Arsenal's good work in the final third and was central to their goalscoring last season:
With these figures in mind—the 28-year-old also scored 24 times in the top flight, as well as laying on 10 assists for team-mates—there will a clutch of elite clubs in the hunt to sign Sanchez should he indeed be available for no transfer fee next summer.
Even for a team of PSG's pedigree he'd be a coup. The forward is a useful player to have around, as there are few weaknesses to his game. Sanchez can play anywhere across the front line, works extremely hard and is lethal when chances drop to him.
As noted by Sport Witness, there have been some doubts over the future of Edinson Cavani at the Parc des Princes as of late. But so far this season the Uruguayan has linked up to devastating effect with new signings Neymar and Kylian Mbappe.
PSG are currently top of the table in Ligue 1 and have played some mesmerising football. As noted by Squawka Football, the aforementioned forwards have been crucial to that:
The chance to make that tricky trio into a quality quadruple may appeal to Sanchez, and PSG undoubtedly have the financial backing to make a deal happen, as they illustrated last summer. While the side may lack balance with those four in the same XI, the firepower would be enough to frighten anyone in the game.
However, according to Ornstein, the Arsenal man is keen to link up with Pep Guardiola at Manchester City, with the pair having worked together previously at Barcelona.