"There is money there [for transfers], but not as much as I read in the newspapers, because that is not true," Wenger told Arsenal TV Online.
"However, with my financial package, the first thing I have to make sure is we keep the players we have at the moment. That is what people forget.
"The new rules put you under threat to lose your best players because after three years any player can walk out and after two any player over 28.
"So the rules and the structure of the wages bill is always under threat.
"My first target of the summer is to make sure what we have here stays here, and after, if there is still money available, to buy players.
"It is not as simple as it looks when you read there is so much money available to buy players - that transfer budget also includes the improvement of the wages."