Arsenal boss Arsene Wenger has hit out at the excessive spending of Premier League clubs as transfer fees reached new heights this window.

Infamous for his reluctance to open the cheque book, the manager has claimed that the prices for players has at times increased tenfold for English sides.

Arsenal have been frustrated in the transfer market this window as the club has failed to secure the signing of a top class central defender or indeed add the likes of a top class striker, with defender Shkodran Mustafi and Lyon forward Alexandre Lacazette the latest pair to have eluded the Frenchman.

Valencia are asking around £30-million for Mustafi’s signature while Lyon recently turned down a £31-million approach from Arsenal for Lacazette.

‘Today in Europe you have two markets. One for the English clubs and one for the rest of Europe,’ the Frenchman told the Telegraph.

The Frenchman went on to claim that by virtue of English clubs having more money they were subsequently being asked to cough up higher fees for the transfer of players than clubs from elsewhere.

‘The danger of the English situation is that the English clubs can suffocate themselves in the long term,’ the manager explained.

‘That means there are very high wages linked with it and, if they are wrong, they will have these players with high wages who cannot move anywhere else.’

The coach nevertheless insisted he was ready to spend money on signing the right player for his side should such a player become available.

Arsenal will play their next game of the season away to Leicester City at the King Power Stadium on Saturday.

Kick-off is at 18:30.