Sanchez has been linked with a move to Bayern, Paris Saint-Germain, Chelsea and Manchester City this summer as he enters the final year of his contract at the Emirates Stadium.
Media reports suggest Sanchez is looking for close to £300,000-a-week from Arsenal, who are willing to offer £250,000-a-week. City would not balk at such a figure, but Sanchez has yet to declare where he sees his future.
Hoeness has offered his thoughts on the matter.
"The salaries being talked about up front of over €20 million (a year) are an amount that definitely isn’t feasible for FC Bayern," Hoeness said in Bild.
Sanchez scored 24 goals in 38 appearances in the Premier League for Arsenal last season and produced 10 assists.