The Chile international’s future has been source of relentless speculation in the 2016-17 season so far.
Sanchez failed to agree a contract extension when Arsenal and their prized asset held talks earlier this campaign.
The 28-year-old revealed during the international break that he wants to stay in the English capital and is willing to see out his contract which will expire in 2018.
The Daily Telegraph are reporting that Sanchez has made Chelsea is first-choice destination this summer if the former Udinese man does secure a move away from The Emirates.
Arsenal have a record of selling their best players to their direct rivals, including Ashley Cole to Chelsea, Robin van Persie to Manchester United and Samir Nasri to Manchester City.
Speaking to Sporting Life about Sanchez’s future, former Arsenal midfielder Merson claimed that the Gunners will have no reservations about selling Sanchez to Chelsea to avoid the player leaving on a free transfer.
“I think Sanchez will leave this summer,” Merson told Sporting Life.
“I don’t think Arsenal will finish in the top four and if they don’t finish in the top four then I don’t see him staying.
“I know the way Arsenal work so there is no way they will let Sanchez leave for nothing if they can get £50m for him in the summer.
“They will have no qualms in selling him to Chelsea. Arsenal will have no choice – if Chelsea are the team that are prepared to pay £50m then Arsenal won’t let him see his contract out.
“People say, ‘Oh well, they won’t sell to Chelsea’, but they sold Robin van Persie to Manchester United so they won’t be fussed about that.
“I definitely think Sanchez could be a Chelsea player next season. He is a world-class footballer so he would fit in at Chelsea.”
Sanchez has scored 18 goals in the Premier League this season.
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