The Gunners have pretty much surrendered to the possibility of losing the Chilean after prolonged unsuccessful contract talks. Manchester City have been leading the race for Sanchez' signature so far but failed to get their man with a £60-million bid late in the summer transfer window.
Wenger and company, however, will consider bids of more than £25 million for the world-class winger in January with French outfit PSG also rumoured to be heavily interested.
With the possibility of getting little money in return and with no sight of a potential replacement should the Citizens come knocking, the Gunners are left to hope that PSG will join in as they could also use them as leverage to boost the price.
Draxler has been a long-term target of Arsene Wenger, but the German is highly unlikely to want to leave PSG for Arsenal as he joined them in January 2017. The deal is also further complicated by Bayern Munich who are reported to be sniffing around Draxler in bid to find replacement for Franck Ribery who turns 35 next April.
Despite his positional flexibility, Draxler has found playing time under Unai Emery unsatisfactory having made only six appearances this term.
The German midfielder's contract with the French side stretches to 2021 and is currently evaluated at around £35 million.