Wenger closes in on Sanogo
The highly-rated striker, 20, has scored nine goals in just 11 league appearances for the Ligue 2 outfit.
He current deal expires this summer and reports in France have claimed that he has shunned offers from a host of clubs in his homeland by agreeing a four-year deal with the Gunners.
However, Wenger has insisted a deal is not yet concluded for the France Under-21 international, but admitted it was close.
"It is in the advanced stages but it is not done," he said, when asked about Sanogo.
If, as expected, Arsenal conclude a deal then they would be due to pay Auxerre compensation as Sanogo is under 23.