Sanchez is still in a contract stand-off with the Gunners amid reports he could be sold this summer, with PSG and Manchester City linked.
Last season was by far the most hard of Wenger's 21-year tenure as manager, with Arsenal's on-pitch travails exposing him to furious protests from sections of the club's support. "Maybe I made a mistake", Wenger said after Arsenal beat Chelsea on penalties in last weekend's Community Shield.
Vardy put the visitors 2-1 ahead just before the half hour, darting into the box to rifle another fine Albrighton cross past Cech after the winger had pounced on a poor square ball from Arsenal midfielder Mezut Ozil.
Arsenal are slated to take on reigning Premier League champions Leicester at the Emirates Stadium on August 12.
After waiting until he had secured the FA Cup in May before signing a new contract extension, the Frenchman has attempted to address his team's shortcomings, smashing the club's transfer record to lure Alexandre Lacazette from Lyon and bringing in defensive reinforcements to bolster a suspect rearguard. Gabriel and Santi Cazorla are definitely out.
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A host of injury worries means that Wenger could be without several key players on Friday.
He has said he intends "to focus completely on the Premier League", but if such an approach fails to yield a title challenge, he can expect the protests to ramp up quickly. He was understood to be keen on a move to Manchester City over his other suitors, but the new offer could change his mind.
"We've got our first game this Friday coming and we can't wait to get started".
Now Sanchez is a hard choice - to sign the main contract of his life or go to another club who set themselves more ambitious goals.