However Cech said Sanchez, who was linked with a move to rivals Manchester City in the summer, was committed to the team's cause.
"You take a Sanchez into the final year of his contract, you sacrifice £60-£70million income and at the end of the season you will have to buy somebody for that amount of money", Wenger told beIN Sports.
Real Madrid have also considered Bayern Munich's striker Robert Lewandowski and Borussia Dortmund forward Pierre-Emerick Aubameyang, but Sanchez is the preferred option as he could arrive for a cut-price deal in January or as a free agent next summer.
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"'In the second half, Sanchez became alive".
Chelsea come into the game in impressive form following three back-to-back wins.
Real Madrid, on the other hand, are looking to revamp their forward line and with Gareth Bale not living up to expectations, Los Blancos are expected to swoop in for Sanchez in January and make a bid of close to £50 million. You know how it is: "when you don't win, people find any problem for you".
"On top of that, Chile had a bad experience as well".
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The Gunners host Germany's Cologne in Europe's second-tier competition on Thursday and Cech, who won the title with Chelsea in the 2012-13 season, said the club must take a call on how they approach the tournament.
Arsenal, fifth in the Premier League last season, missed qualifying for the Champions League for the first time in 20 years and coach Arsene Wenger has indicated the club could focus on winning their first league title since 2004 this year. Why not both in this weekend's big game?
Sanchez wants to leave Arsenal for a reason and while a summer move away from north London when his contract expires remains on the cards, the goals, assists and moments of magic could make the £140m hit worth it come the end of the season.
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They followed that up with the Games of the 23rd Olympiad, in 1984. Security Council, which on Friday condemned the North Korean test.