Arsenal manager Arsene Wenger admits the transfer spending of some of their Premier League rivals is "scary". The Gunners boss has signed Granit Xhaka and Rob Holding and is rumoured to be in the market for a striker – but he admits the North London club will not be competing with the likes of Manchester City and Manchester United on net spend.

Wenger is seeking to end Arsenal's 12-year wait to lift the Premier League crown this season and despite the eye-watering spending of their rivals, the Frenchman is confident of causing an upset. He is, however, amazed by their financial muscle, which could soon see United break the world transfer record to sign Paul Pogba from Juventus.

"I personally believe that no matter what you do, it's never enough," he said, according to The Guardian. "In the Premier League, every club is hugely ambitious. With the cheques that everybody signs, it's quite scary. But I believe we know what we have to do."

Meanwhile, Wenger is full of praise for Arsenal's latest signing, Holding, who made his Gunners debut in their 1-1 draw against the MLS All Stars. "He has adapted surprisingly well," the Arsenal manager said of the 20-year-old defender. "He reads the game well and understands what's going on at such a young age."

Meanwhile, Wenger also admitted Arsenal are in a challenging period at the moment as they try to combine their pre-season training schedule with playing money-spinning games on their US tour. "It's tough for us," he conceded.

"We are in a very hard training programme at the moment, so you never know how tired the players are when you go into the games. But it was good to see that we were in good shape. We've had two hard days in our training sessions just before we played today, and it was good to see that everybody did well."