Reports in England over the past couple weeks claimed that the Red Devils had shown interest in the Gunners top scorer, who is believed to be weighing up his options.
Sanchez was last the last Arsenal player to make the switch to the Red Devils, but he only managed five goals in 45 appearances before being loaned to Inter Milan this season.
"It depends what people put down as a risk. If he was to go to Manchester United, does it help Arsenal? No, not at all," he told Sky Sports.
"If Aubameyang wants to leave, you ideally want him out of the Premier League. However, he is of a mind and age that I can see the dangers and understand comparisons with Van Persie. However, I think he will be thinking about what happened to Alexis Sanchez rather than Van Persie.
"Would he want to be a part of a superstar reload at Manchester United? Is there a great appeal to that? If it was Liverpool or Man City I would get it, but Manchester United are miles away from the top two. I do not see the appeal of moving to Old Trafford.
"Would he win the title with United in the next few years? I don't think so. He might not even be in the Champions League if he was to join so what is the real appeal? Is it salary? I don't think he is that type.
"Van Persie jumped to a massive salary, but Manchester United are not the same calibre as what they were then. Would he be the cutting edge for them? Maybe. But, like Arsenal, I think they have other issues to address.
"If Arsenal were to get £100m for him to go there, I would take that. Arsenal were once the challengers to United for the title, but now neither of them are. If Man Utd offer £100m for Aubameyang, sell him."