Arsenal can still win the Premier League title without signing Liverpool striker Luis Suarez, Arsene Wenger said on Saturday.
Earlier in the day, Reds boss Brendan Rodgers valued Suarez at the £100 million being touted for Tottenham's Gareth Bale by Real Madrid -- a fee Wenger previously called a 'joke' -- while also insisting the Uruguay forward is not for sale.
Arsenal's pursuit of Suarez has not progressed since the Gunners bid £40 million plus £1, intended to trigger a clause that would allow them to discuss terms with the Uruguayan, who is reported to be considering handing in a transfer request and taking legal action in order to orchestrate a move away from Anfield.
Despite only adding France Under-20 forward Yaya Sanogo on a free transfer from Auxerre so far this summer, Wenger remains confident about challenging for the championship.
"Yes, of course. I am confident," Wenger said after Saturday's 2-2 draw with Napoli in the Emirates Cup. "Why should I sit here and say to you we can absolutely not win the title with the players we have?"
On Suarez, Wenger said he intends to conduct further dealings in private.
"I never said we have made a bid to Liverpool; now I can tell you we have made one, so at least that is some information. All the rest, I would like to keep to us," Wenger said. "If we progress in that situation, we will inform you. At the moment, that is where we are.
"We will treat every transfer with the rules we have always done until now, that is in a fair and respectful way. That is our club, that other clubs do differently is their problem, but we will be completely faithful to the values we think are important here."
When pressed on whether he would be prepared to shell out such a massive fee on one player, Wenger said: "We have one month in front of us and we will work very hard to strengthen our squad, without naming any specific names, because I do not believe that will make negotiations easier.
"After that, you can make all kind of thinking about the price of the players, and you can say as well they are all overboard anyway."
Wenger's faith in his current squad looked questionable after some poor first-half defending Saturday allowed Lorenzo Insigne and Goran Pandev to put the Italians in command.
However, an acrobatic goal by France striker Olivier Giroud with 18 minutes left sparked a fightback, with Laurent Koscielny heading in a dramatic late equaliser.
"It was a good game overall at a good pace against a good side who finished second in Italy last year," said Wenger. "I feel overall over 90 minutes we played going forward. It took us time to adjust defensively, and as well it was a good mental test because from 2-0 down to come back for 2-2 is very impressive."
Wenger also confirmed Ivory Coast forward Gervinho was set to leave, expected to be for Roma, but that there was no progress on a deal for Denmark striker Nicklas Bendtner.
He also said Marouane Chamakh's future with the Gunners "will be decided in the next 48 hours."
Information from Press Association was used in this report.