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Published 13:27 2 Sept 2015 BST
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Arsene Wenger said earlier in the summer that he would only strengthen his squad if there were players of true quality available.
Arsenal reportedly inquired about Real Madrid's Karim Benzema but the Frenchman had no plans to leave La Liga.
After a less than rollicking start to the season, the club put the feelers out for a man that could find the net with regularity.
The Daily Mirror claim that Arsenal were told they could have PSG's Uruguayan forward Edinson Cavani for €50m.
Cavani has scored 36 goals in 67 games with the French club and, prior to that, bagged 78 goals in 104 Napoli games, but he is 28-years-old and Arsenal were reportedly worried he would have very little sell-on value.
Wenger spoke about the current transfer market, and Manchester United's capture of Anthony Martial, on beIn Sport.
He commented, 'What happened last night with Monaco, who sold Martial to Manchester United for €80m, I’ve heard.
'Martial scored 11 goals in the French championship - that sums it up well.
'That means it’s not the money that’s missing at the moment, it’s not the desire of investment that is missing, it’s the number of players available who can strengthen the big clubs.'
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