Arsenal boss Arsene Wenger has revealed the Gunners are close to making their fourth signing of the summer.
The Frenchman made his admission following the 0-0 draw with champions Leicester at the King Power yesterday.
"Yes we are close [to another signing]," Wenger told BT Sport. "But I would say spending in itself is not a quality.
"Spending and buying the right players is a quality."
Wenger has also confirmed Arsenal are in talks over Valencia's Shkodran Mustafi.
The Germany international is thought to be at the top of Wenger's wishlist as the Gunners desperately attempt to replace the injured Per Mertesacker.
Speaking to French TV station SFR Sport, Wenger said: "Mustafi? We hope it will be done. We are struggling to find the players we need.
"[Mustafi] is one of a number of players we are looking at. Negotiations are ongoing."
Arsenal's summer signing Takuma Asano will not feature at the Emirates this season.
Wenger confirmed that the Japan ace, 21, had not been granted a work permit and could not play for the Gunners even if Wenger wanted to pick him.
Hayters reporter Simon Collings tweeted: "Wenger confirms Takuma Asano has not got work permit. Will be loaned to Germany or France.
"Wenger on why Asano hasn't got work permit - 'because he didn't cost £50m'."
