Wenger will be watching on intently as new coach Ronald Koeman looks to cope with the loss of so many talented players this summer.
“'I respect the quality of work they (Southampton) have done,” said Wenger.
“You look at Southampton and the team they had last year, plus Walcott, Chamberlain and Bale - they could have won the European Cup had they managed to keep everyone together.
“The modern game has changed and the smaller clubs with less potential are not in a position to keep their players.
“It will be interesting to see how they get over what happened to them.
“They have made a lot of income and they have shown in the past they are very clever at scouting.
“It will be very interesting to see how they manage what has happened to them.”
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