'It's not all about big spending' - Wenger
Arsenal's Premier League rivals Manchester United broke the world transfer record earlier in the week when they paid £89m (€103m) to Juventus to take Paul Pogba back to Old Trafford.
That deal continues a trend which has seen the record extended by nearly £75m in 20 years.
Wenger's own record signing came when Arsenal paid in excess of £40m to sign Mesut Ozil in 2013 from Real Madrid and he has criticised the amount of money that has been spent recently.
Wenger recruited Granit Xhaka from Borussia Monchengladbach in May for around £30m but has failed to add any other big name signings since then.
A defender is currently his highest priority given injuries to centre-back pairing Per Mertesacker and Gabriel, and with Laurent Koscielny not ready after his run to the final of Euro 2016 with France.
Valencia's Shkodran Mustafi has been heavily linked but Wenger insists success is not always down to how much is spent.
"It is not always about spending money or sacking the manager - football has to be a bit bigger than that," he said.