The Gunners boss has been promised the finances for investment in new players by the board should he want it.

However, that is likely to be far less than what is to be made available from the new American owners at Liverpool and Aston Villa, not to mention how much Chelsea will spend looking to wrestle the Barclays Premiership title back from Manchester United - themselves also sure to strengthen.

It remains to be seen what will transpire from the interests of new Arsenal shareholder Stan Kroenke, with the involvement of the American billionaire understood to be behind the shock departure of vice-chairman David Dein.

For the moment, however, Wenger has little choice than to accept what is on offer within the constraints the club operate under, having an on-going commitment to their new 60,000-seater Emirates Stadium.

"Certainly there is money to spend in the summer. How much? Frankly at the moment I do not know. We have to see," said the Arsenal boss.

"It is linked as well with who goes out, who comes in.

"You can create money. That is what we always try to do - but how much I do not know."

Wenger added: "I will be meeting the board at some point next week to discuss the budget."

The Gunners manager, though, knows there can be no quick fix to regain the vast experience gone from his squad in recent seasons.

He said: "You look in the last two years - we have lost Robert Pires, Dennis Bergkamp, Sylvain Wiltord, Sol Campbell, Ashley Cole, Patrol Vieira, Edu, Kanu, Martin Keown.

"It is a capital of experience you lose and you do not replace that from one second to the next."

Wenger believes his current squad can take credit from what they have achieved despite missing key men like leading scorer Robin van Persie and inspirational captain Thierry Henry for large chunks of the campaign.

"To finish fourth or maybe third with the way things happened to us - we see other clubs when they lose a player it is all over the newspapers - at least we have achieved the minimum," said the Arsenal boss ahead of tomorrow's trip to Portsmouth.

"We have lost three or four vital players and we have never complained about anything.

"I am not happy with our results, but it is the minimum."

Wenger firmly believes there is more to come from this Arsenal side, which reached the Champions League final last May but came up short on all fronts this season.

He said: "In the Premiership, we had the lead 16 times. We won 14, drew two and lost zero.

"We went 20 times behind in the league, and were the only team who scored 21 goals in the last 15 minutes.

"When we led first, nobody beat us - and only Chelsea managed to draw."

Wenger added: "We have potential, but at the moment we are a bit short.

"What I learned about myself was not to panic, using the experience I had from previous years. Many clubs could have collapsed."

Wenger has already started building for the future as Arsenal close in on the signature of Polish keeper Lukasz Fabianski, while 18-year-old midfielder Fabrice Muamba has been sold to Birmingham following a successful loan spell.

The Gunners are set to appoint a director of football over the summer as they seek to fill the void left following Dein's departure.

Wenger would not be drawn on reports his close friend may well be back at the Emirates as some part of Kroenke's supposed takeover.

The Arsenal boss said: "Of course I still speak with David, he is a friend of mine.

"I do not know why I should not speak to him any more because he has left the club.

"At the moment there is no possibility he will come back."

Wenger added: "I feel David is needed in football, because this guy has revolutionised this club and English football.

"Will he stay in football, I would say yes. Will he come back to Arsenal? I do not know. At the moment, it is unlikely."