Arsenal appear willing to ignore their strict wage structure and lure the Liverpool striker to Emirates Stadium by making him the highest paid player in the club’s history.
After reportedly having two bids already rejected for the 26-year-old, Wenger could be forgiven for growing frustrated in his pursuit but insists he is happy to stay patient.
“We are not close to signing Suarez … or anyone else,” he said.
“We are ready to do quick deals but all the transfers do not depend only on us. We are prepared to wait.
“It looks very unlikely that we will have anyone before the Emirates Cup next week because everyone is on tour at the moment and it’s very difficult to get in touch with people.”
Arsenal have already failed once in the transfer market with their well-publicised desire to sign new Napoli striker Gonzalo Higuain.
Despite some supporters growing anxious at the lack of new faces at the Emirates, Wenger is confident his current squad have what it takes to win silverware this season.
“With or without additions we can be title challengers next season,” he said.
“We try to do the job and we will try to do it well, but nothing has been concluded with anybody.
“What we want is not a name but a good player. The name is less important. What is more important is the quality of the player. At the moment I must tell you we are not close to signing anybody.
“Of course we want to do as many top players as we can, but we also have to focus on the players we have and develop them.”