Arsene Wenger reckons Arsenal are closer than ever to a Premier League title and do not need to buy because they are at "the start of a cycle."
Neither Cesc Fabregas nor Robin van Persie will return until Arsenal's official photocall on August 5 but Wenger is adamant both players will be a part of the side chasing a first title since the invincible campaign of 2003/2004.
"We have to remind ourselves that we decided to go with a very young team three or four years ago and we have developed this team," said the Frenchman.
"I believe that two years ago we were quite far, but last year in April we were two points away from the top.
"Normally we should be closer again because that development is part of a young team.
"I know that in England when you do not win the championship it's always about buying, but what is important is that we improve individually and as a team because we are a very young team.
"We are not a team that is at the end of a cycle, we are at the start of a cycle.
"So our future will be decided not by who we buy or need, but as well by how much we improve."
Wenger is loathe to spend the sort of money the likes of Manchester City are splashing out but he accepts he can not use that as an excuse for failure on the pitch.
"I am concerned about the focus of my team and the quality of my team, and we will try and do as well as well we can," he said.
"No matter what happens this season, the money will not be an excuse if we do not achieve our targets. We know the world we live in.
"It does not go into financial consideration. I judge whether they are good enough in the championship.
"Have the other clubs more money or less money? It is not important.
"It is whether the players are better players or lesser players and I think we can compete with the players we have."
Wenger also feels that the money spent by City so far this summer is an unfair reflection of the market as a whole.
"I don't think Man City reflects in general the financial state of international football," added the Frenchman.
"The transfer market overall is very quiet - clubs are very tight with money."
Arsenal have been linked with a number of central defenders after losing veteran trio Mikael Silvestre, Sol Campbell and William Gallas and, despite Wenger's faith in his squad, he accepts reinforcements are needed.
"At the moment we are still looking outside to strengthen the squad," he said.
"Ideally [we need another centre-back], in number we have lost Silvestre, Campbell and Gallas and we have only signed Koscielny," he said.
"[Johan] Djourou is coming back so you could say we have got two, but we are still two short."
Wenger is out of contract at the end of the season and, on his future, he said: "I have always shown how much I like this club and how much I want to do well for it, but it will depend on the club as well as me."
