Again ... big clubs do not sell their players for money. Its impossible for us to go in and outright buy a player from Bayern, Barca, Real, PSG or City. They only sell them, in case they dont want them anymore. If that was the case, you would see transfers like City trying to buy someone off Bayern for £100m. They have the money. They need the players. But it doesnt work like that. Instead, they also have to rely on having to bottomfeed on smaller fishes. So they cherry pick the best ones and get Otamendi from Valencia, De Bruyne from Wolfsburg and Sterling from Liverpool. All for very big fees, fees which we would be able to replicate, but the success will always swing it their way.
Second ... players like Sterling or Pedro or Costa are not options for us, if those same big clubs come calling. We are not in consideration, since we do not match their glamour, their success or their wages. Of course, we could match their wages, but the first two aspects will still swing it their way.
Third ... as i already said - every big club in the world knows an outlay it would take to get a top, top player to join their side. If someone from a slightly smaller club (Reus, Griezmann etc) didnt move, its for a good reason. That reason being, that the outlay is way too big to justify the risk. Or the fact that a player doesnt actually want to move, as moving from clubs like Atletico or Dortmund to Arsenal for example is a lateral move and they may be angling for a bigger move instead, next summer.
That's the whole reason why Wenger is so secretive and so stingy with the money. He knows that as soon as there is a world class player who is semi-available, he will get gazumped by one of the big boys. He needs to calculate, not panic, keep getting the results and add whatever quality he can. If we starts blowing our transfer budget on average players, he will never have any money to do the big deals, should they become available. It worked the last two windows with Özil and Alexis, didnt quite work this well this summer, although Cech is pretty much in the same category in terms of quality and impact on the team. People are only hysterical, because unlike last 2 windows, we ended up with money left over.