Alexis Sanchez and Mesut Ozil have less than a year left on their current Arsenal contract Reuters

Arsenal manager Arsene Wenger has admitted that the Gunners could lose both Alexis Sanchez and Mesut Ozil in the January transfer window.

The Chilean international left Barcelona made a switch to the Emirates stadium in 2014, a year after Ozil swapped Real Madrid for the north London club. The former was keen on completing a switch to Manchester City earlier in the summer transfer window.

Both Sanchez and Ozil have less than a year left on their contracts at Arsenal. The duo have been attracting interest from clubs across England and Europe, with Manchester United reportedly believed to be interested in the World Cup winner with Germany.

When asked if Arsenal can allow Sanchez and Ozil leave in Janaury, Wenger said: "In our situation, we have envisaged every solution. It is possible"

Wenger's latest comments may come as a welcome boost for both the Manchester clubs. Pep Guardiola has been keen on bringing his former player to the Etihad, while Ozil is reportedly willing to reunite with his former manager, Jose Mourinho at Old Trafford.

Ozil's agent Dr Erkut Sogut confirmed the talks over a new deal has been "positive" so far as his client is eyeing for two or three more seasons in the Premier League. Should Arsenal fail to meet his wage demands, the German international could swap the Gunners for the Red Devils.

"Ozil wants to play another two to three years in the Premier League. Our contacts with Arsenal continue and are going in a positive way," Sogut was quoted as saying by the Independent.

Arsenal already allowed Alex Oxlade-Chamberlain join Liverpool in the summer transfer window. Losing Sanchez and Ozil will be a massive blow for Wenger and the north London club, especially as they look to qualify for the Champions League next season.