Wenger said Sanchez would only be allowed to leave if they could get a new signing over the line - the club have been linked with young Bordeaux forward Malcom.
And Ferdinand, who enjoyed a trophy-laden career at United between the years of 2002 and 2014, believes that the Chile worldwide has more chances of winning silverware with Pep Guardiola's side.
"Sanchez is an Arsenal player, I don't know but probably this weekend he is going to defend Arsenal colors, so I don't think it's correct to say things about Alexis Sanchez".
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City remain tight-lipped over a potential approach for Sanchez in the current transfer window but midfielder Kevin De Bruyne said on Wednesday he believes the player would "add something" to the squad at the Etihad Stadium.
"It would be a coup, particularly for United fans, to have a player like Sanchez potentially come to them over City".
'The word we can find to be speaking about players of other clubs.
The 36-year-old Swede is now tied to a short-term contract at Old Trafford which is due to run until the end of the season.
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With the Old Trafford outfit and Madrid being the only clubs able to pull off such reckless endeavours, United's deal could undoubtedly annihilate the attacking figure's previous world-record transfer. Sanchez is the subject of interest from Manchester United and Manchester City and while Wenger admitted Sanchez was likely to leave, the manager was more hopeful on Ozil.
"Normally he would stay until the end of the season - but we'll see", said Gunners boss Arsene Wenger.
" It looks like Sanchez will not extend his contract.These guys want to win, and they want to make money as well".
However, Manchester United have turned the transfer saga on its head with their late bid to hijack Manchester City's move for the Chilean and are reportedly close to thrashing out an agreement with the winger.
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That form has helped propel Guardiola's side to the top of the Premier League and into the last 16 of the Champions League.