Arsenal manager Arsene Wenger has insisted that he is "not against spending" big money to bring in top quality players to the club.
The Gunners were heavily linked with Julian Draxler during the January transfer window, with Schalke reportedly demanding £37m for the highly-rated 20-year-old midfielder.
The move never materialised, and Wenger has hinted that there were other factors beyond the asking price that hindered any potential deal.
"We are not against spending, but at the moment we are focused on the second part of the season, and at the end of the season we will see what we will do," Wenger is quoted as saying by PA.
"You have announced a lot of transfers in your papers that have not happened, in many places, that means it is not as easy as it looks, even with money, to buy the right players in that period."
Arsenal currently sit top of the Premier League table following today's 2-0 win over Crystal Palace, although Manchester City could overtake them if they beat Chelsea tomorrow.
