According to Sky Sports, Coutinho has put in a transfer request at Liverpool, with Spanish and European giants Barcelona interested in the attacking midfielder.
Liverpool legend Lawrenson, who now works as a pundit for BBC Sport, has suggested that if Coutinho leaves for Barcelona, then they could use part of that money to sign Sanchez from Arsenal.
Sanchez, who can operate as a forward or as a winger, is one of the best players in the Premier League.
The Chile international has been at Arsenal since 2014 when he joined from Barcelona, but the 28-year-old’s current contract with the North London outfit runs until June 2018, according to Transfermarkt.co.uk.
“I would keep him if you could because he is a very good player but I honestly don't see Coutinho as indispensable, certainly not in the way that Luis Suarez was for Liverpool,” Lawrenson told BBC Sport.
“If they sold him, as well as getting Van Dijk and Keita they could go and put in a bid for Alexis Sanchez as well.”
Arsenal kicked off their 2017-18 Premier League campaign with a 4-3 victory over Leicester City at the Emirates Stadium in North London on Friday evening.
Set pieces. Arsenal are f***** horrible.— Stan Collymore (@StanCollymore) August 11, 2017
Every coach says “lets have something positive to go forward from today from. Clean sheet, nick a win, etc etc”— Stan Collymore (@StanCollymore) August 11, 2017
Arsenal concede 3. At home.
2 opening home games in two season, 4 shipped, now 3.— Stan Collymore (@StanCollymore) August 11, 2017
Whatever your opinions on AW/SB, on day 1, just shouldn’t be happening . End of.