Ornstein in his BBC article does say " the most likely outcome remains that Sanchez will stay and see out the final year of his contract."
Trying to 2nd guess what Arsenal will do is pretty much impossible because they are not run on logical lines. Keeping key players who want out splits and alienates the dressing room and that will destroy their season. But will Wenger see that? They are in discussions, and in most cases, given all that has happened, you'd think a deal was in Arsenal's best interests now, but this is Wenger. How did he come up with that team at Liverpool? You can't predict what he'll do
http://www.bbc.co.uk/sport/football/41084876