Arsene Wenger has confirmed that Alexis Sanchez's future at Arsenal "will be decided in the next 48 hours".

The Chilean, believed to be on the verge of a move to Manchester United or Manchester City, was not in the Gunners' squad for their 2-1 defeat at Bournemouth on Sunday.

Wenger continues to give little indication as to what shirt Sanchez will be wearing by the end of the month, but has now provided a timescale in terms of when a decision is expected to be made.

"It could happen today or tomorrow or not at all," Wenger told Sky Sports News. "That's why I didn't want to travel with him today for him to go somewhere else.

"Alexis would have played but this is a difficult period for him. He has always been committed until now.

"He could have moved today or yesterday or not, but it will be decided in the next 48 hours. He is on standby so I decided not to bring him today. It wasn't that he didn't want to play."

Sanchez, whose contract runs out at the end of the season, has scored 80 goals for the Gunners in 166 appearances.