The England international has been strongly linked with a move away from Old Trafford having handed in a transfer request in May, and Chelsea have already seen a bid for the 27-year-old rebuffed by the Premier League champions.
However, Wenger, who is a known keen admirer of the forward, has no doubts that Arsenal could afford to bring Rooney to North London.
"It happened to us last year [with Robin van Persie] and it can happen to them," Wenger told the English press.
"Rooney is under contract and has two years to go so it's United who make the decision. But we would not have a problem with the wages of Rooney."
Barcelona, Bayern Munich and Paris Saint-Germain are also reported to be interested in Rooney.