Arsenal legend Ian Wright has delivered a scathing assessment on the current state of Arsenal's January transfer business.

The Gunners look set to lose Alexis Sanchez to Manchester United in the coming days, with Henrikh Mkhitaryan expected to go in the opposite direction.

Borussia Dortmund striker Pierre-Emerick Aubameyang is also being heavily linked with a move to Arsenal, whilst Bordeaux's Malcom is also reportedly on Arsene Wenger's radar.

Sanchez, 29, is available at a cut-price because he has only five months remaining on his current deal at the Emirates.

Contracts are still being negotiated but fellow Arsenal stars Mesut Ozil and Jack Wilshere will also be available on a free transfer in the summer.

“It looks like Sanchez will not extend his contract,” admitted Wenger last week.

“But we want to keep Jack and if we have an opportunity maybe to keep Ozil, the rebuild will be less deep than if all the three left."

Ian Wright drops truth bomb

Once teammates at Dortmund, Arsenal fans are getting quite excited about the prospect of Mkhitaryan and Aubameyang in their squad - but Wright isn't quite so enthusiastic.

"Everything that is happening is being forced on them through other people," he told The Debate on Sky Sports.

"Mkhitaryan is not a player Arsenal have been after - he's a player that Arsenal have been handed.

"It's the same with Aubameyang - a couple of years ago, he was on everyone's radar but now he's gone a bit cold. Then all of a sudden, he's on Arsenal's radar - it all feels panicky for me.

"Of course they are both quality players. But if you are losing Sanchez, you need players that will hit the ground running. I'm not sure about Mkhitaryan's state of mind right now."

Wrighty might be onto something here.

Arsenal now lie eight points behind fourth placed Chelsea and their best hope of qualifying for next season's Champions League appears to be winning the Europa League.

Man United did it under Jose Mourinho last season and the Gunners are massive favourites for their last 32 meeting with Swedish minnows Ostersund.