Despite the Barcelona, Manchester United and Liverpool men being linked to the club, the Gunners boss has played down reports of any imminent signings taking place.
The long-serving Frenchman has been handed a bumper transfer war chest this summer but has so far only brought in France Under-20 international striker Yaya Sanago on a free transfer from Auxerre.
But with fans hopeful of a major investment this season, the 63-year-old has warned the Arsenal faithful that another signing may not come any time soon.
“The competition in Europe is very hard at the moment,” Wenger told reporters. “There’s a lot of money and not many players. We work hard but we are not close to signing anybody.”
Arsenal is believed to be in the mix for Real Madrid forward Gonzalo Higuain and Liverpool forward Luis Suarez. Wenger also stated that the club could afford to take on Manchester United forward Wayne Rooney's wages in a move that would exact a bit of revenge on the Red Devils for their acquisition of former Gunner Robin van Persie.
"It happened to us last year and it can happen to them," Wenger said following Wednesday's 7-1 preseason friendly win over Vietnam in which Olivier Giroud netted a hat trick. "Rooney is under contract and has two years to go, so it's United who make the decision. But we would not have a problem with the wages of Rooney."