Speaking at his weekly news briefing, the Arsenal boss was responding to criticism from former Arsenal defender Sol Campbell, who claimed the Londoners need to “push the boat out” to bring in new players.
“What has not changed at all is our policy that we will be as ambitious as ever and spend the money we have available, if possible in an intelligent and wise way,” Wenger said.
“We have always spent money because we are ambitious for top-class players and if you look at the history of our last 15 years, we have always had top-class players. Sol Campbell is one of them.”
Wenger is convinced that his Arsenal side can mount a credible title challenge next season after falling short in the league and Champions League this term.
“There are two basic trophies for me that are the sign of the quality of a team; they are the Premier League and the Champions League,” he added.
“The Champions League is prestigious and it is half league and half cup. That means that at the end, the teams who wins must show real quality.
“All the rest, they are trophies of course and they are important, but they do not really reflect the deep quality of a team. The championship does, and we want to win it.
“Our ambition is intact, to win the championship. It depends on how we finish the season to decide how much we need to buy to have a chance to win the championship next season.”