Shkodran Mustafi can see Arsenal talisman Alexis Sanchez playing for Bayern Munich

Arsenal defender Shkodran Mustafi admits he can see Alexis Sanchez plying his trade for Bayern Munich but hopes the Chile international remains in north London beyond this summer.

Sanchez, 28, is currently on international duty as he bids for glory with Chile in the Confederations Cup but speculation over his future remains rife with both Manchester City and Bayern Munich interested in recruiting the former Udinese wonderkid, who could cost up to £50m despite having just one year left on his contract with the Gunners.

Mustafi, who joined Arsenal from Valencia for a fee of £35m last summer, says he can see Sanchez playing for Europe's elite, including the current Bundesliga champions. But would prefer to see the Gunners talisman pen a new long-term contract at The Emirates Stadium in order for Arsene Wenger's side to enjoy and benefit from the world-class talents provided by the former Barcelona star.

"I hope he stays," Mustafi told BILD. "He is an extraordinary player, for me one of the best in the world. I have experienced few players who are as hungry as him. As soon as he is on the ball, everyone knows something can happen.

"He can play in every team. He could play anywhere, even at Bayern Munich."

Sanchez has previously discussed his burning desire to win titles and compete for the Champions League, something Arsenal will not even be involved in next season. It has been suggested that Sanchez wants around £300,000-a-week, which would more than double his current wage.

But reports last week stated the versatile Arsenal attacker has made his mind up over his future and is set to push for a move to Manchester City in order to reunite with Pep Guardiola, the man who made him a Barcelona player in the summer of 2011.

Sanchez is just one of a host of Arsenal players entering the final year of their respective contracts. Alex Oxlade-Chamberlain, Mesut Ozil and Aaron Ramsey are just three Arsenal players with uncertain futures, but Gunners boss Wenger is keen to tie all three plus Sanchez down to new long-term contracts.