Arsenal lost Sanchez to Manchester United in January, with the Chile international struggling for form in the 11 months since.
The 29-year-old was signed with the belief that he could go on to be the club’s heir to Cristiano Ronaldo, who they are yet to sufficiently replace since his move to Real Madrid in 2009.
Arsenal, however, appear to have dodged a bullet with Sanchez scoring just four goals for Manchester United since the transfer.
The forward moved to Old Trafford as part of a swap deal involving Henrikh Mkhitaryan.
And the Independent claim Arsenal feel that they were right to offload Sanchez for the Armenia international.
At the time, many fans were upset at the player moving to their fierce rivals.
Arsenal had controversially lost Robin van Persie to United in 2012, in a decision that backfired.
Van Persie went on to win United the Premier League title in his first season at the club.
With Sanchez, however, there has been no repeat.
The Chile international has managed to score just four goals – against Huddersfield, Swansea, Tottenham and Newcastle.
He is currently below Anthony Martial in the pecking order on the left-wing and, up top, Romelu Lukaku is Mourinho’s preferred option.
The Independent claim Arsenal feel Sanchez’s best days may be behind him.
And what happens next for the 29-year-old remains to be seen.
Arsene Wenger signed off Sanchez’s move to United and, speaking recently, expressed a belief the forward was lacking confidence.
“I believe he has lost confidence,” the Frenchman told beIN SPORTS.
“The strength of Alexis Sanchez is to take initiative to dribble and to take people on.
“Those are the players who are most vulnerable when they lose confidence, their game is based on that and having that feeling to take initiative, he has lost that slowly.
“Since the start of the season, he had a high level of physical energy but he has lost that as well.
“Certainly, he is refreshed now because Mourinho left him out for a while.”