Wenger: I wouldn't splash out on Ronaldinho

Moneybags Chelsea are pursuing the Brazilian but Wenger — who has £71million to spend after Arsenal's record financial results announced this week — claims Ronaldinho is a bigger star off the pitch than on it.

Russian billionaire Alisher Usmanov increased his stake in the club to 23 per cent yesterday, as Arsenal confirmed that they had held "a constructive meeting" with Usmanov's business partner Farhad Moshiri.

But Wenger is refusing to ditch the principles that have won him three titles and four FA Cups by splashing out. The Arsenal manager said: "I have to trust my judgment and know I will make mistakes. I always say you have to have a relaxed attitude because in the right hand there is a bomb and in the left there is a hand grenade. If you are wrong, it can explode in your face.

"Maybe one year ago, Ronaldinho was the best player in the world. Is he today? No. It is as simple as that.

"It is like in tennis. You can be No 1 in March and No 10 in November — footballers are the same. I don't want to ruin the work I have done by signing someone for £30m, and he is not necessarily better than what you have got.

"A superstar is someone who performs better than another player on the pitch. Just because someone speaks three times on television, it doesn't make him a superstar. Let's see what kind of performance he puts in."

Arsenal have won five and drawn one of their first six League games, but Wenger warned: "Chelsea will come back into it, Manchester United are already in it without being at their best and Liverpool look strong."

Not only are the first team impressing, but a shadow squad beat Newcastle 2-0 in the Carling Cup on Tuesday in great style. It confirms Wenger in his belief that he does not need to take advantage of the £100m transfer budget he was offered in the summer, or the £71m in ready cash.

Wenger burned his fingers when he signed Jose Antonio Reyes from Sevilla for £15m, but failures are few and far between at Arsenal.

He added: "We have built a team in a different way.We bring players together, we educate them and give them the culture — that's our approach."

It is an approach that Freddie Ljungberg was schooled in, but the midfielder will face Arsenal in West Ham colours at Upton Park this afternoon.

After claiming that the spirit had been ripped out of the club when he left in the summer, Ljungberg has changed his tune after watching Arsenal top the Premiership.

Wenger said: "He has changed his mind about us, but we don't bear grudges with Freddie because I know he's an honest guy. I will always love Freddie, no matter what he says."