The future of Togo striker Adebayor is yet to be resolved one way or another - with AC Milan continuing their interest following a public pursuit last summer before the 25-year-old agreed a new deal to stay at the Emirates Stadium.
Adebayor, howev
er, has made it clear he would be happy to remain and lead the Gunners' challenge for honours despite a difficult season.
Wenger has no desire to sell the striker - who netted 30 goals during the 2007-08 campaign - as he prepares for his squad's return to training next week.
"If he does not want to stay, he will leave, but I think he will be still at Arsenal this season," Wenger told French radio station RMC.
Wenger's only signing so far has been Belgian defender Thomas Vermaelen and looks set to continue his quest to bring in a holding midfielder.
However, should Adebayor move on, the Gunners boss could move for Moroccan international Chamakh.
"Yes, but only in the event of a departure," Wenger said of his interest in Chamakh.
The Gunners boss had also been tracking Lyon's Karim Benzema, who is set to join Cristiano Ronaldo at Real Madrid.
"There is one who interested me, but he (Karim Benzema] left for Madrid," said Wenger.
"I did not make an approach because I would never have thought that Lyon would sell this year."
Wenger added: "There are two prices today, the price when Real Madrid buy and the market price.
"In the market, 35 million Euros for Benzema is a very good price. But is he three times less good than Ronaldo? I don't think so."
Arsenal have moved this week to tie up several of their youngsters on new, long-term deals, with Jack Wilshere and Aaron Ramsey agreeing contract extensions while for members of the successful FA Youth Cup team signed professional forms.
Holland international Robin van Persie, last season's top scorer, is expected to agree terms on a new deal shortly.
