Wenger was cautious when asked about Sanchez's future, refusing to deny that United have launched an offer of £25m for the Chilean.
The Sky Blues were said to be willing to wait to sign him for free in the summer, but their plans have been accelerated by Gabriel Jesus' MCL injury.
A number of Premier League sides have expressed interest in signing the 20-year-old, who is valued at around £45million and revealed last week he was learning English.
"It's pretty obvious he's not going to stay at Arsenal".
"It would be a coup, particularly for United fans, to have a player like Sanchez potentially come to them over City".
Speaking ahead of Sunday's trip to Bournemouth, the Gunners boss added: 'Look, honestly, I cannot tell you much more at the moment about this situation.
The newspaper says Bordeaux are willing to sell if £45m is put on the table this month and Arsene Wenger may now be tempted to push through a deal for Malcom before the transfer window closes.
According to the same broadcaster, Serie A Inter Milan are also considering a loan move for Mkhitaryan.
United beat City to the capture of Van Persie in 2012 and the Dutch star delivered the Premier League title that season, while Cantona hoisted the trophy aloft on four occasions during his time at the Theatre of Dreams and Neville feels Sanchez could follow in the footsteps of the duo.
The quality and variety of options available to Guardiola-even with Jesus out injured-means they are not in desperate need of landing Sanchez in January.