The striker was expected to leave the Emirates in the summer, but Arsenal stood firm in their stance of retaining their prized asset. However, with his deal running out in June, an exit as soon as January seems highly plausible.
Manchester City came the closest to landing Sanchez on transfer deadline day and they looked to have taken the pole position to do so in the winter transfer window. Another option is a move to Ligue 1 giants PSG, where Dani Alves welcomes him with open arms.
'It's a possibility, but there are several teams that want him. I want him to be happy wherever he goes, but if that's with us, it's better', the right-back said after Brazil ended Chile's hopes of World Cup qualification.
'It's always difficult to come up against players like Alexis, with this quality and level but we've been concentrating over the whole game and we've done a great job', said Alves, about his former Barcelona colleague.
Should Sanchez make the switch to the Parc des Princes, he would join a growing group of South Americans in the French capital, including Thiago Silva, Edinson Cavani, Angel Di Maria and most recently Neymar, who is also keen on linking up with the Chilean.