Arsene Wenger says Arsenal's move for Monaco's Thomas Lemar is "dead" as the French side won't sell.
Wenger conceded on Thursday that the France international will not be making the move across the Channel as the Ligue 1 champions face losing some of their other title-winning stars.
"It's dead because Monaco have closed the door," he said.
"They are still on cases like (Kylian) Mbappe and Fabinho. They've already lost Benjamin Mendy, Bernardo Silva and Tiemoue Bakayoko, so Monaco are at a stage where they have closed the door."
Wenger, who signed his own two-year renewal with Arsenal in May, has several players who, like Sanchez, have contracts that expire in 2018.
One of those is England midfielder Alex Oxlade-Chamberlain - linked to Chelsea - but Wenger is adamant the 24-year-old remains a key member of his squad moving forward.
Asked whether reports of a meeting with Oxlade-Chamberlain to thrash out his future were organised for later in the day, Wenger replied: "We all have our agendas that are quite busy but we do not publish them. Some people look better informed than I am!
"My secretary has my agenda, I will check what I have to do today.
"I want him to stay and be one of the big players of the future of this club. He is one of the players this team has to be built around in the future.
"Personally I want him to commit to the club and to be one of the carriers of the values of our team."