Arsene Wenger has insisted he remains confident neither player will leave in next month’s transfer window.
But with Arsenal facing the possibility that Sanchez and Ozil could leave for free at the end of the season, they may be forced to listen to offers.
Manchester City are expected to come again for the Chile international but will not try anything near the £60million they offered in the summer and Ozil has reportedly eyed a reunion with Jose Mourinho at Manchester United.
And Gunners legend Wright has ripped into his former club for putting themselves in a terrible situation which could end up costing them dearly in the long run.
“It is terrible business for Arsenal, for a club that is accused of being a business to allow two players like that to run their contracts down,” Wright told Sky Sports’ The Debate show.
“Sanchez on top form is easily a £100m player. Ozil on top form is worth £70m to £80m. Arsenal are letting that go. It is disgusting business on the management side for Arsenal.
“How are you going to sell players like that in January for £25m? It is like people are laughing at you.
“Manchester City could find £25m in the car seat or something. And you’re going to get Sanchez for that kind of money?
“For it to get to this point where they can be offered that kind of money…and why would you offer £60m when they are free in a few months?
“With the way that Sanchez is playing and having seen him be substituted in recent times, something that never used to happen, I would probably take the hit on him now because it looks like the towel has gone in and his heart isn’t in it now.”