While the club have signed Lukas Podolski, Olivier Giroud and Santi Cazorla already this summer, the departures of Robin van Persie and Alex Song means there is a hope and expectation from fans that there is still money to spend at the Emirates.
Wenger has been understandably eager to suggest that he is happy with his squad, but there can be little doubt that he would like to bring in at least one more player before Friday's transfer deadline.
"We have enough [players], that is for sure, but you always want to improve your squad and if we find a top, top, top player we will do it," he said, according to the Arsenal website.
"We are working very, very hard. We have resources available so if it is not happening now it will happen in December.
"We are active but we do not just want to bring average players in. If we find a special player who can find us a plus we will do it, if not we will not do it."
With Van Persie having been sold and Arsenal having failed to score in each of their opening two Premier League games this season, the latest speculation suggests that Wenger is looking to add to his forward options.
Metro reports that Arsenal are interested in Manchester City striker Edin Dzeko. There has been much speculation linking the Bosnian with a move away from the Etihad this summer as he looks unlikely to force himself into Roberto Mancini's first team.
After a prolific run in the Bundesliga with Wolfsburg and scoring 14 times in the Premier League last season, Wenger is believed to be keen to take the 26-year-old to the Emirates. It is a story that appears highly doubtful, however, given that Arsenal have already signed a target-man type striker this summer in Giroud.
According to Metro's story, though, Arsenal may be willing to do a swap deal with Theo Walcott moving in the other direction. Walcott has turned down the club's offer of a new contract, sparking much speculation that he could be sold before the transfer deadline.
While the club is stating that Walcott will not leave for the time being, Arsenal may well consider a serious offer for the England winger now rather than risk losing him for free next summer.
One man who could potentially replace Walcott is Marseille forward Loic Remy. The France international can play either on the right of the attack or as a central striker and is said to be interesting Arsenal, according to Caught Offside.
The report claims that Wenger is weighing up making a £13 million offer for the 25-year-old. Remy has been linked strongly with Tottenham, though their manager Andre Villas-Boas has ruled out a move.
The other speculation surrounding Arsenal has centered on the future of striker Nicklas Bendtner. The Dane looks likely to leave before the deadline with Italian giants Juventus and Milan thought to be battling it out for his signature.
Wenger confirmed that the 24-year-old is available.
"There is a chance he is leaving. Where is not decided at the moment," he revealed, according to Sky Sports.