The Chile attacker is being targeted by Paris Saint-Germain and Juventus, after he was dropped for the trip to Liverpool last Saturday.
Alexis could be recalled for Tuesday’s Champions League clash against Bayern Munich, but Wenger says only the club can decide to sell or not.
Wenger said: “Alexis has 15 months of his contract so the decision of will he be here or not will depend completely on Arsenal Football Club and not on anybody else.”
The Frenchman also insisted that the player was left out, because he wanted to play “direct” at Anfield.
Wenger added: “I explained after the game at Liverpool that I decided to go for a more direct option in the game. That’s what happened. That was the unique reason for my decision.
“All the rest, his attitude – he’s a committed player and sometimes has excessive behaviours but you have that many times in the history of every squad.
“It’s about the team performance, not individuals. It’s a team sport and the most important thing is that we focus on our collective. Our game is built on collective expression. That is the most important thing, that we focus on what’s important and not the individual.
“Alexis played in all the games and when we didn’t perform away from home, we lost as well. We lost at City, United and Chelsea, and that’s what I think is the most important thing, to focus and produce as a team.”