The Gunners boss is undecided on whether to risk the Chilean’s fitness ahead of the Premier League clash with Mark Hughes’ side
The Chile international has not played since the 1-1 draw at Norwich City in November due to a hamstring injury, but is nearing a comeback.
Wenger has praised Sanchez’s attitude in recovering from injury and will consider if it is worth playing him at the Britannia Stadium – a ground Arsenal have not won in their last five visits.
Wenger said: “The question mark is about Sanchez, he has two decisive days – Friday and Saturday.
“He is fit and has worked very hard. The decision we have to take is whether to take a gamble on his injury.”
And the Arsenal boss hopes Sanchez’s return – along with the likes of Danny Wellbeck and Jack Wilshere – can give them a lift as they continue to battle for three trophies.
“At the moment we are in the beginning of January, top of the league, qualified in the Champions League and still in the FA Cup, so we can make it a fantastic season,” he continued.
“The fact we have the injuries coming back can help.”
Wenger added: “Elmeny, he is available for selection. There is a possibility he is in the squad on Sunday.
“He is a promising player. I expect him to develop with us into a very strong player. He can defend and attack.
“I have not decided yet how everyone recovered, but there are no new injuries from Liverpool game.”
-Goal