However, precious few Arsenal fans have ever believed that the former Barcelona man was going to sign a new deal at the club and it's just a matter of time before he is reunited with former boss Pep Guardiola at Manchester City.
Arsenal are now in a tight fix in regards to the contract situations of both Mesut Ozil and Sanchez, and it may not come as a huge surprise, should one of the pair, most probably Sanchez leave before the end of the month.
Manchester City attempted to buy the 29-year-old on the final day of the summer transfer window, but Arsenal were forced to turn down the £60 million deal as they could not find a suitable replacement.
It is reported that Manchester City were going to wait, and sign the Chilean worldwide on a free transfer in the summer, but the injury to Gabriel Jesus has forced their hand.
The Chile global has entered the final six month of his Gunners contract, and his representative is free to discuss a pre-contract agreement with a foreign side this month.
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Manchester City are said to be confident of landing the Arsenal man for as little as £25 million.
It comes as a major boost to City, as it means he will not be cup-tied for the later rounds.
Additionally, with Jesus set for a stint on the sidelines, Sanchez would help preserve the dynamism and fluidity that has been a trademark of this City attack in 2017-18.
Wenger last week hinted that Sanchez's departure was very much a possibility this month by saying that the club has a track record of responding well to losing key players in the past. "You want to keep your best players".