The Frenchman is seen by some as being too cautious in the transfer market as the likes of Manchester City and Manchester United splash the cash.
But Wenger has defended his dealings, claiming he would be happy to spend big money if he could get the men he wants.
He told Sky Sports News: "I will pay 30 [million] I will even pay 40 if I find the right players.
"But it's not a question of money, it's a question of quality we find. I think I have a wrong reputation of not wanting to spend money - I do not want to spend money for average players."
He added the club have got plenty of scouts all over the world, saying: "And we are not frightened to spend money when we think it's right.
"Our fans have more reasons to be proud of this club - the values here, the way the club is run, what the club is built [upon] - than being angry with the club.
"Of course we want to deliver trophies, of course we want to win trophies, who wouldn't want [that]?
"But we feel we were very close last year and my regret of course is that we didn't do it but we are battling on all fronts and a bit unlucky on all fronts I think."
Wenger recognises that the club needs unity to be in with a chance of winning any silverware.
"When something bad happens to you there is only one way to respond as a club - with unity," he said.
"Football is difficult enough if you are united. If you are not united, you have no chance."