Arsene Wenger has denied claims that Arsenal forward Alexis Sanchez is close to finalising a move to Paris Saint-Germain, putting the speculation down to "media imagination".

The Chile international's future at the Emirates Stadium remains unclear after turning down the offer of a new contract, leaving him with 12 months left to run on his current terms.

Arsenal risk losing the 28-year-old for nothing next summer but are said to be reluctant to sell to a direct rival, essentially ruling Manchester City out of the race.

That has left Paris Saint-Germain as the frontrunners to get a deal over the line for Sanchez, who was reportedly spotted in the French capital on Friday to discuss terms with the Ligue 1 side.

Wenger has rejected reports that Arsenal are more willing to offload to a foreign club, though, telling reporters: "I don't think it makes any difference. It's only media imagination."

Sanchez is due to return to Arsenal next week for pre-season training after being given an extended summer break on the back of his Confederations Cup exploits with Chile.