Despite Sanchez stating last week his desire to play in the Champions League, Wenger has insisted the Chilean will not be leaving the Emirates this summer.
In a recent interview with the Gunner's boss, Wenger said "Has he asked to leave? No. PSG can't get Sanchez, so they are going for Neymar."
"My mind has been made up for a while now. I think I've made it clear a few times; that this is my stance."
"We are in a strong financial position. Sanchez has got one year to go on his contract and we have no need to make money."
"He will be part of the team next year and after that I can understand it."
Wenger has also suggested that Sanchez has been the subject of tapping-up. The Frenchman said, "If you have top players you cannot stop it from happening. It's frustrating but you've got to fight against it".
"Honestly, it is a problem, I don't deny that. But is there a realistic way to fight against it? That's the question that I ask."
"We've fought against this for 20 years but it still happens. How can you check when an agent meets a director from another club or which player speaks to who?"
"It happens every day. I don't know what we need to do really because no-one has found the right solution."
"We are respectful with the clubs. We ask them what they want to do, and if they don't want to sell then we don't insist. For some, that is where the difference is."