It has been a familiar pattern for Wenger to at least break even in the transfer market since moving to the Emirates in 2005 and, after the early expenditure for Lukas Podolski, Olivier Giroud and Santi Cazorla, he has since more than covered that outlay by selling Robin van Persie and Alex Song.
Wenger said that he might still spend today if a “top, top player” became available, and has made inquiries about Chelsea midfielder Michael Essien, although the approach is likely to be rebuffed, but he also stressed that he regarded the squad as strong enough to challenge for major trophies.
It is an assessment that is likely to frustrate many
“I am relaxed,” said Wenger. “We have enough players, that is for sure, but you want always to improve your squad. We have resources available so if it is not happening now it will happen in December. But we believe strongly that we have the quality in our squad to do very well.
“We bought Cazorla, Podolski and Giroud so you cannot say we have not bought but, when you listen to people, you always have to buy more.”
Asked what could really strengthen the squad, Wenger pointed to the treatment room and the long-awaited returns of Jack Wilshere, Bacary Sagna and Tomas Rosicky.
“Getting our injured players back is the best way for us to strengthen the squad,” he said. “We do not just want to bring average players in. Spending in itself is not a quality. Buying good players is a quality, better players than you have is a quality.”
Wenger also outlined his confidence that Theo Walcott would sign a new contract, despite allowing the 23 year-old to enter the final year of his current deal.
“His situation is simple – that he will stay with us and play for us,” said Wenger. “At the moment it is very difficult to predict what we will do. He loves the club, and maybe we can find an agreement at some stage.
"Theo is 23. He’s English, he basically lives 10 minutes from here. So hopefully we can find an agreement.
“He’s not money obsessed. He does not say, ‘it’s that, or not’. There are little differences in negotiations that can happen. He is developing very well. He is intelligent, a good finisher.”
Walcott has been offered a five-year contract worth £75,000-a-week but, mindful of the going rate for comparable England internationals, is hoping for a deal closer to £100,000 a week.
Wenger, though, indicated that there were clear boundaries for a player of Walcott’s age compared to more experienced professionals.
“It was never a hard line approach [with Walcott], always a soft line approach but with the respect of our wage structure,” said Wenger.
“Every decision we have a general line of conduct that is our wage structure that we want to respect. If we don’t do that we will go nowhere. It is of course different for a 29 year-old player than for a 23 year-old player.”
Wenger is confident that Walcott is “focused and committed” ahead of Sunday’s