But Wenger says, "He will be here for this season and if we manage to do it for more seasons, we will do it as well".
The report even claims he has been hinting to friends and team-mates that he will stay, and indeed was pictured kissing the badge during training last week.
Sanchez is in the final year of his Arsenal contract and his decision not to accept boss Arsene Wenger's offer of a lucrative new deal has sparked interest from Manchester City, Chelsea, Paris Saint-Germain, Bayern Munich and Juventus. Will Wenger rest his first-choice players to have them firing for the more serious business of the league?
I believe City's hierarchy would ideally rather keep him, but should Sanchez arrive and with Gabriel Jesus already highlighted as the number one striker - they realise Aguero could be left very unhappy on the bench. Wenger tried a comparison between Arsenal's new reality and that of Sunday's opposition Chelsea last season but the latter won the league without the burden of any European football at all.
"I will always play a team that has a good chance to win the next game", Wenger said.
Arsenal will be competing in the UEFA Europa League but will surely be tempted to give their younger players that stage to prove their worth.
Stadium: Stamford Bridge opened in 1877, when it was first used by the London Athletic Club, before Chelsea took over in 1905 and have played their home games there ever since.
Asked if Perez's future lay elsewhere, Wenger replied: "Yes, because we have a congestion of strikers".
"In England you win the title and the others prepare next season to fight you with all their strength, to try to go to the transfer market, to try to improve".
He added: "The players we have brought in are quality and in a very difficult worldwide market we've worked hard all summer and I must say the competition is so difficult in market it's hard to find players who can strengthen and have the mental attitude".