Arsenal manager Arsene Wenger says the reason why he didn't sign more players during last summer's transfer window is that it would have compromised the quality of his team.
The Frenchman came under heavy fire after his decision not to add an offensive player to his squad in the summer.
But he insisted that he will add elements to his squad if he finds quality during the winter transfer window.
"We are not scared to spend, I know I have that reputation," Wenger told shareholders at Thursday's annual general meeting.
"If the player has quality we spend money.
"We have been successful in building the squad, we have to be smarter than our wealthier competitors but spending just because it's there is not wise if it compromises the quality.
"I agree the performances have not been good enough but we have played over 150 games in Europe. Our percentage of wins is in the top five."
