Alexis is going to go .. that can not be doubted (now or at the end of the season). Wegner brought Lacazette precisely to replace Alexis, Arsenal does not spend that much money regularly.
PSG: Neymar - Cavani - Di María , Is there room for Alexis?. If he did not go to Bayern because he did not play in a competitive league, why would he go to PSG?
(I do not believe that the friendship with Neymar and D.Alves is greater than that of Bravo and the relationship with Guardiola).
In my opinion, Wenger is going to expect Lacazette to take Alexis's place this season .. but if there are big economic pressures they will sell him.
He is not going back to Barcelona that is clear. Taking the place of Morata in Madrid, it is very unlikely. He rejected Bayern, and the PSG is only speculation of the press so far; also for him, is not the first choice.
Alexis is going to go (Chilean Journalist)
http://www.t13.cl/blog/abran-la-cancha/alexis-se-va-ir
Saw Lacazette twice and he looks like a great all around player.
Arsenal will sell Alexis now and cash in on 50m from us. They can sign Lemar for probably 60m.
Giroud and Wenger both confirmed he is staying. A major sign. Sanchez leaving would be less likely if Giroud left.
I am confident Sanchez will be holding up the CITY shirt soon.