The Gunners are chasing a first league title in ten years and, speaking at a Leaders Sport Network breakfast in London , Tom Fox said:
"You can't compete against that.
"We're a football club in London and we are a global brand, but we would never try to compete against the financial resources of a country.
"I just don't think that's a very realistic thing for us to do … trying to chase those types of owners. Obviously it's just not possible.
"Winning and doing it on our terms, in a self-sustaining way, I think (would be) incredibly powerful,
"We believe that we will be successful running the football club the way we're running it — despite a whole host of other issues, whether it's the economy at large, whether it's the make-up of the ownership.
"Almost by necessity, we have a financial model that doesn't allow us to go into the market every summer and buy all of the best players that are for sale.
"His [Wenger's] mantra is that we don't buy superstars, we make them.
"We are competing against oligarchs (Roman Abramovich at Chelsea), we are competing against nation states, we are competing against clubs all across Europe that have sources of funding that are significant, that make it very difficult for us to compete."