"At the moment, [the signing of Sahin] is not alive," said Wenger. "Can you be not alive and not dead? It is possible.
"We will only take players who have something special. We are still in the market in some positions, but overall we believe we have a very strong squad."
Wenger added that he is happy with the midfielders he has at his disposal for this season.
"We have a good mixture because we have experienced players in midfield like [Mikel] Arteta and [Santi] Cazorla, like [Tomas] Rosicky, and some young very promising players like [Alex] Oxlade-Chamberlain, [Aaron] Ramsey, [Francis] Coquelin, [Jack] Wilshere and one or two in between age wise like [Abou] Diaby, who is coming back," said the Frenchman.
"We believe we have a good mixture."
Arsenal are back in Premier League action on Sunday when they take on Stoke City away from home.