The Frenchman signed a new two-year deal in May to continue as boss but his position has again started to be called into question.
Former favourite Ian Wright believes it is time for the 67-year-old to say enough is enough.
Wright said on BBC Radio 5 Live: "Where do we start? The amount of things that are going wrong, it does come back to Arsene Wenger's door. We're three games in and we're literally at crisis point.
"Do I think he should go? I would like him to go simply because I do not believe now that Arsene Wenger can motivate those players with everything that's going on above him.
"And the way the players are performing on the pitch, for him to turn this around....(It's) for himself, for his own sanity. We are three games in and it's already an absolute nightmare.
"Where does he go from here?"
Wenger has been insisting all summer that Sanchez would not be sold and would instead be allowed to walk away for free when his contract expires in 2018.
He also recently hailed Oxlade-Chamberlain as "one of the big English players in the coming years" but could now lose him to a main rival.
Defender Gabriel left the club last week while there is still speculation surrounding Shkodran Mustafi, Jack Wilshere and Kieran Gibbs - with striker Lucas Perez having been told he can leave for the right price.
Meanwhile, Liverpool are looking to follow up an agreement for Naby Keita with a £135million double swoop for Southampton defender VIRGIL VAN DIJK and Monaco midfielder THOMAS LEMAR, says the Sun.
Elsewhere, Chelsea want to make a triple swoop for England trio ALEX OXLADE-CHAMBERLAIN, DANNY DRINKWATER and ROSS BARKLEY before the transfer window closes, according to the Telegraph.
The future of wantaway Chelsea striker DIEGO COSTA might also be close to being resolved, with the Daily Mail reporting that the Premier League champions are close to agreeing a deal with Atletico Madrid that would see the Spain international return to his former club in a deal worth up to £50million.
Staying in London, Crystal Palace could try to tempt SAM ALLARDYCE back as manager if they decide to sever ties with Frank de Boer, the Times reports. Palace are second-bottom of the Premier League after losing their opening three games under De Boer, who took charge in the summer.
Another Premier League manager in the spotlight is SLAVEN BILIC, whose West Ham side are the only team below Palace in the table. However, the Telegraph reports the Croatian will be given four games after the international break to "save his job".
PLAYERS TO WATCH
NIKOLA VLASIC: Everton are hoping to seal a £10million deal for the 19-year-old Hajduk Split winger before the transfer deadline, according to the BBC.
SERGE AURIER: Spurs will hear on Tuesday whether their proposed £23million signing of the Paris St Germain defender will be successful, reports the Independent, with The Home Office set to decide on whether the Ivory Coast international will be granted a UK work visa.
RENATO SANCHES: Swansea have joined the list of clubs hoping to sign the Bayern Munich midfielder on loan, but they face competition from the likes of Paris St Germain, Chelsea and AC Milan, reports the Daily Mail.
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