As exclusively revealed by Goal, the Gunners have had a £20 million bid for Sporting Lisbon midfielder William Carvalho rejected but are close to securing Greece international defender Kostas Manolas after the Olympiakos man underwent a medical.
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"If it's a long-term injury [for Mikel Arteta] that puts us in a position where we have to be creative."
The Gunners are also light at the back following Thomas Vermaelen's transfer to Barcelona, with teenager Calum Chambers filling in at centre-back while Per Mertesacker returns to full fitness after his World Cup exploits.
Despite the former Southampton defender's success in the heart of the defence, Wenger remains on the lookout for signings to bolster his back line but is confident that Chambers can deal with any challenges in the mean time.
"We are not in an emergency case but we are open to any opportunity to strengthen our defensive department," revealed the Frenchman ahead of his side's clash with Everton.
"It is a big test [for Chambers against Romelu Lukaku] but it was also a test against Demba Ba."