However, both clubs look set to be disappointed after Wenger revealed he still has big plans for Giroud, who is now just two goals shy of his Arsenal century after five years at the club.
Sanchez will be without Champions League football if he stays on at Arsenal past the summer. While the competition has found itself labelled by many in England as European football's unwanted child, Manchester United showed last season that it does serve a goal: entry into the Champions League.
As Romero points out, the hard part is still to come, and that is Txiki Begiristain convincing his counterpart at Arsenal to sanction a deal.More news: Amazon Smartphone Sale offering major discounts on iPhone 7 and more
More news: Time To Rake In Healthy Returns From US Bancorp (USB)
More news: Iran fires missiles into Syria in revenge for attacks
Arsenal are believed to be on the lookout for attacking reinforcements this summer as the Gunners gear up for the new season.
Despite penning a new deal at the Emirates in January, the France global has hinted at a willingness to move elsewhere following a frustrating campaign in which he was limited to 17 starts in all competitions.
Now, manager Wenger has made a fight to keep Giroud, as he has been quoted by The Mirror as saying that Arsenal "need" a player like Giroud in their squad next season and beyond. For a man who thought signing Yaya Sanogo - who scored once in four seasons at the club - was a good idea, though, there are some who feel Wenger is incapable of spotting a genuine world class striker when he sees one.
Arsenal's failure in trying to secure players to extensions has left the club facing a huge financial hit next summer if any of the aforementioned players leave for nothing.