Lemar was a major target of Arsenal’s during the close season and they reportedly agreed a club-record £90million deal for the France international on deadline day.
However, according to Wenger, the winger rejected the move to the Emirates Stadium at the last minute, opting to remain in Ligue 1 with Monaco.
The collapse of that deal also reportedly prevented Alexis Sanchez’s move to Manchester City from going through.
Wenger had previously suggested that Arsenal had not given up on Lemar yet, but now he is less committal and has cast doubt on going in for the midfielder again.
When asked if he was considering another attempt to sign Lemar, Wenger told reporters: “No, at the moment I have a big squad and the problem for me is to keep everyone together until the end of the season.
“In January, I don’t know yet.”
One young player who Wenger can call upon is Rob Holding, and the manager spoke glowingly of his centre-back ahead of Thursday’s Europa League clash with Red Star Belgrade.
“Rob I rate highly,” he said. “I have shown that in very big games.
“He is ahead of what is a normal central defender at his age. At the top level there are not many who play before 24 [years old].
“He has big experience behind him already. He had a little bit of a lack of confidence at the start of the season but I think he has recovered now.”
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