Arsene Wenger is convinced that the Chilean striker will not sign a new contract at the Emirates, with his current deal set to expire next summer.
The 28-year-old wanted to quit during the transfer window, and was left devastated after a £60m switch to Manchester City failed to materialise on deadline day.
The Emirates chief does not want to sell to another Premier League rival, and would rather lose him to a club in Europe.
Monaco were interested in signing the ex-Barcelona ace in the summer, and would be keen to have him on their books.
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