Arsenal boss Arsene Wenger hits out at transfer window, says no substance to Julian Draxler rumour

ARSENAL manager Arsene Wenger said suggestions his side were about to sign Julian Draxler were comparable to UFO sighting

Will Julian Draxler end up in London before the end of the month?

ARSENAL manager Arsene Wenger was in jovial mood as he said suggestions the Barclays Premier League leaders were about to sign Germany's Julian Draxler were comparable to UFO sightings.

The Frenchman, a long-time critic of the January transfer window, was responding to reports that Schalke midfielder Draxler had already visited Arsenal's training complex.

"That (rumour) is like an unidentified flying object -- some see them everywhere," Wenger said.

"Are we close to signing anybody? At the moment I would say no."

Meanwhile Wenger said the present mid-season transfer window needed either to be abolished or at least altered drastically.

Will Julian Draxler end up in London before the end of the month?

"Either you scrap it completely, or you leave it open until as long as possible to the last four games," he said.

Wenger's team head into this weekend's match at home to Fulham a point in front of free-scoring Manchester City at the top of the table.

Manuel Pellegrini's expensively-assembled side are on the cusp of scoring a hundred goals in all competitions so far this season after a 5-0 thrashing of Blackburn Rovers in their FA Cup third round replay this week.

Wenger said he accepted Arsenal, under the control of US businessman Stan Kroenke, would always be outgunned financially as long as City were owned by Sheikh Mansour, a billionaire based in the oil-rich Gulf state of Abu Dhabi.

But he said that was no reason why Arsenal couldn't match them on the pitch.

"In terms of their resources, no (we cannot compete) because they have unlimited resources. But with our resources available, we are ready to fight," said Wenger.

As for suggestions Arsenal, who last won a major trophy in 2005, won't last the distance in the title race, a dismissive Wenger said: "Let people make Man City or Chelsea the favourites, we can accept that."

The 64-year-old Wenger, now the longest-serving manager currently in the Premier League following the retirement of Manchester United boss Alex Ferguson, is out of contract at the end of this season.

Asked if he'd signed a new Arsenal deal, Wenger said: "There is a point where you have to decide and there is a point where you have to make your decision public."