Sagna is expected to leave the Emirates in the summer when his contract expires, with there still no sign of there being an agreement on an extension.
The Frenchman wants a pay rise to £100k a week, following years of loyal service to the Gunners, but Arsenal have so far refused to budge.
Inter Milan are reportedly keen to sign him at the end of the season, meaning Wenger will have to enter the transfer market for a replacement.
And it appears the Gunners boss has set his sights on 21-year-old Aurier.
The Toulouse full back has impressed in Ligue 1 over the past couple of seasons since signing from Lens, and has earned seven caps for the Ivory Coast.
Aurier has netted five goals from right back this season, and has two years remaining on his current contract, however the Gunners remain confident a deal can be struck for around £6million.