The Arsenal manager made a late £14 million (S$30 million) bid in August for Liverpool midfielder Xabi Alonso but refused to meet the Anfield club's valuation of £17 million.

With the Spaniard now cup-tied for the Champions League, the price would have fallen, reported The Telegraph.

Now it remains to be seen if the Reds are willing to sell the 27-year-old, who has become a key part of the side after complaining about a lack of first-team football.

Wenger's project of bringing in youngsters and giving them a chance to flourish is commendable.

But injuries and immaturity are hampering his side's performances and there is a real possibility of not qualifying for the Champions League after 10 years of mixing it with the European elite.

Wenger needs to buy when the transfer windows opens on Thursday. Other targets include Yaya Toure, the Barcelona midfielder, Juventus youngster Sebastian Giovinco and Rennes' Stephane Mbia.

The situation has been made even more pressing with Fabregas' injury, which he suffered in a tackle with Alonso in the Gunners' 1-1 draw with Liverpool last Sunday.

Wenger has already been quoted by the Daily Star as saying: 'We are more likely to buy in January now.'

Arsenal captain Fabregas, who will be out of action for four months, is looking on the bright side over his lay-off.

'The doctor told me I was lucky because my foot was in the air during the collision,' the Spaniard told the Sun.

'If it had been on the ground, I could have ruptured my anterior cruciate and had internal and external injuries. Anything could have happened.

'Of course, I don't want to be injured but it could have been a lot worse - it could have been nine months out.

'There will still be things to play for when I come back. I could be ready for the Champions League quarter-finals if we get through.

'And, hopefully, we will still be in contention for the FA Cup and the Premier League.'

He attaches no blame to countryman Alonso for his injury, adding: 'It was an accident with Xabi and there was no fault on his part.

'He was very concerned and has been calling regularly. He is a good friend. It's not a disaster. There are worse things that happen in life.'

Liverpool themselves are looking for reinforcements and the talk is that they will bring striker Emile Heskey back to Anfield with a £4 million bid.