Sanchez and Ozil can both leave for free next summer unless they are sold in January, meaning the club could lose their two most prized assets for nothing.

Arsenal insisted this summer that neither player was for sale despite refusing to sign new deals, but then tried to sell Sanchez to Manchester City on transfer deadline day. That deal collapsed, however, as they were unable to bring in Thomas Lemar from Monaco as a replacement.

Wright urged the club to sell Sanchez in January, but added that the cut-price rate will make the Gunners a laughing stock.

"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.

"Sanchez on top form is easily a £100 million 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?"

Ozil has rediscovered his best form in recent games, and scored a spectacular winner against Newcastle on Saturday. While Arsenal still hold out hope of Ozil committing to a new deal, Sanchez's exit looks inevitable. And Wright criticised the Chilean's attitude and work ethic in recent games.

"At least [Ozil] is putting in a shift to help the team win points. But Sanchez you might as well recoup whatever money you can in January because he does not look interested," Wright said.

The former Arsenal striker was equally harsh on Sanchez when talking on BBC Radio 5 Live, saying he was "not putting in a shift" and has "clocked off" in recent matches.

And he added that while selling Sanchez on the cheap is bad business, it may not be bad for the team.

"The way he's playing now, I can't see how that is going to hurt Arsenal," Wright said.