The Reds winger has dominated the headlines in recent weeks after admitting to the BBC that he has turned down a much-improved contract extension at the club.
With his deal set to expire in 2017, a host of clubs have been linked with a summer bid - with The Sun crediting Chelsea, Manchester United and the Gunners with a credible interest in the England international.
However, following the North Londoners’ 4-1 victory over Sterling’s side on Saturday, Wenger seemingly quashed the rumours by instead focusing on the attacking talent vying for a first-team spot at the Emirates.
“We have been linked by the media. At the moment we are not in a transfer period at all. We are focused on Burnley next week and we have plenty of offensive players,” the Frenchman explained.
“If you look at who we had on the bench, we had Theo Walcott, Tomas Rosicky and Danny Welbeck who did not start the game.”
Do Arsenal need Raheem Sterling?
Of all the teams in the Premier League, the Gunners are arguably the side with the best attacking talent and it’s an area of the field which doesn’t need strengthening unless something special comes along.
Is Sterling a special talent? Yes, but at what cost? The Gunners already have a similar player in Theo Walcott who is currently occupying wages in line with a top first-team regular.
As the former Southampton man has been restricted to just three Premier League starts since returning from injury, the strength in depth at the Emirates Stadium is well documented.
Sterling, 20, would be a fantastic coup for a team willing to pay big wages for an exciting youngster, though in order to realise his potential he has to be playing regular first-team football.