Wenger thinks the new-look format brings both advantages and disadvantages.
"I'm not against the idea," he said. "I haven't studied it well enough to give a verdict on it.
"It has advantages [and] it has disadvantages. The advantage is that the whole [of] Europe would be concerned by the championship.
"The disadvantage is sometimes when the country organises the European Championship, it's a good opportunity for them to build structures [that] are very useful on new stadiums, new training pitches [and] new communication facilities.
"It's always a good opportunity to make up to date structures for football. [In] the long-term, that's important. That would be less [of] the case. I find the idea creative."