Sanchez is expected to become a United player in the January transfer window as Jose Mourinho's men are willing to pay Arsenal's £35m ($48.1m) asking price in addition to the hefty sign-on and agent fees of the 29-year-old forward.
However, the Reds are also looking to include Henrikh Mkhitaryan in a prospective deal, though, a move ultimately hinges on whether the Armenian international is willing to trade Old Trafford for the Emirates.
Jones, who has played against Sanchez over the past few seasons, believes the Chilean would be a "positive move" for the club but refused to state whether a deal was edging completion.
"He's a good player," Jones said, as per ESPN. "But it doesn't meant to say he's going to come to United.
"We'll have to see. If someone new comes in the door then obviously it's a positive move for United but it's not up to us, we just do the business on the pitch.
"We just go about what we do best. Keep playing, it's not up to us, it's not down to us. We know just as much as you guys."
If United do get Sanchez, they will be heavily boosted for the second half of the season as they currently sit in second place in the Premier League, 12 points behind neighbouring rivals Manchester City.
Jones has still not given up on a first league title since 2013 and believes anything is possible, considering United themselves, blew an eight point lead to hand City the title back in 2012.
"Football's football, never say never," Jones added. "I remember in my first season we were eight points clear, absolutely cruising, no way we'd let the lead slip and we lost it on the final day.
"Football's football. People can say what they want but we'll continue to be positive and push forward. You never know. It happened in 2012 to us so why not?"