However, Ozil's agent Dr Erkut Sogut said earlier in the week that the Germany global wanted to play in the Premier League for another two to three years and that talks with Arsenal "are going in a positive way".
Sanchez is allowed to talk to foreign clubs in January ahead of his contract expiration however Manchester City would have to risk losing out if they were to sign him for a free transfer.
On the possibilty of Arsenal selling Ozil, Wenger said: "We have envisaged every solution, it is possible we might sell in January".
Dani Alves has labelled a potential switch to Paris Saint-Germain as a "possibility" for Arsenal contract rebel Alexis Sanchez, but concedes that there remains plenty of interest in his former Barcelona teammate's signature.
"I always said that the fact we didn't sign an agreement doesn't mean that the player will leave".
"Both players look happy here, overall I hope the situation can be turned round".
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In the short term, Sanchez has to deal with the disappointment of Chile's failure to qualify for the World Cup, following their 3-0 midweek loss in Brazil.
"It is my understanding [that he wants to stay]", Wenger said. "It was a very physical game [against Brazil]".
The Frenchman told reporters: "I will have to speak to him".
"Ozil wants to play another two to three years in the Premier League". Arsenal are now six points off the Premier League leaders after signing just two players this summer - striker Alexandre Lacazette and left-back Sead Kolasinac.
Wenger said that the midfielder will get more games soon, and does not have to leave Arsenal to be in contention for England.