Sanchez is expected to seal a move to Premier League leaders, Manchester City.
Both clubs have open talks over the transfer and reports claim it could be completed this weekend, in time for the Chilean to make his debut against Liverpool.
Arsenal could also include Debuchy in a deal to sign West Brom defender, Jonny Evans.
The Gunners “are hopeful of tempting Evans to the Emirates Stadium with an offer of first-team football as opposed to probable rotation at City.”
Meanwhile, Gunners midfielder Francis Coquelin could be on his way to Valencia, according to the Mail.
It reports that Arsenal are prepared to sell Coquelin, who has been on the fringes of the squad, with West Ham also interested but boss David Moyes fearing that he “would prefer a move to Spain.”
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