Arsene Wenger says Arsenal want players at the club who focus on "values, not millions" but insists Alexis Sanchez was committed throughout his time in north London.
Sanchez completed his move to Manchester United on Monday in a swap deal that saw Henrikh Mkhitaryan join the Gunners.
Some reports claim the Chile star will earn as much as £350,000 a week at Old Trafford and Wenger last week suggested Arsenal had "no chance" of getting the player to sign a contract extension given the money on offer in the north west.
Wenger's comments came despite the club being placed sixth in the latest Deloitte table showing the richest clubs in the world in terms of revenue in 2016-17.
The 68-year-old maintains Arsenal are still restricted in their spending due to the costs of the Emirates Stadium but says he will always favour bringing players through the youth system to ensure they have the right attitude to playing for the club.
"You can't forget we have financial restrictions from the banks because of the stadium. We have to respect the financial plan," he told a news conference.
"We worked very hard to become richer and after that we have to spend the money in the most intelligent way we can in a transfer market that has become a bit out of control.
"Despite the financial superpowers we have now in our league and in Europe, I believe it's important that we keep the basis of our focus on getting people from inside the club.
"The way football is going is maybe not necessarily only to buy players for a huge amount of money, but to have players in the team who care about the club, who have a sense of belonging to the club.
"I'd rather encourage the club to push more on the quality of youth work rather than go into a way where it's only about millions and not about values. We are the only team to play with four, five players who have come out of the club."
Wenger concedes the sums on offer at United would have been hugely tempting for Sanchez but he maintains the former Barcelona man always showed a good attitude at Arsenal.
"When players get to a certain age and they want to go, you have to respect that," he said.
"At the end of the day, we are a serious football club with responsibilities and you want to spend the money you can afford. You have to make decisions at some stage. If you cannot afford then you have to say no.
"I said here before: he's 29 years old and it's maybe his last contract. Of course, the financial aspect is important.
"You can combine both. He goes to a great club and gets a great contract. You can combine both aspects.
"Sanchez is a great guy and has always been committed. He is a guy who loves football. When he's on the football pitch, he gives his all."
Wenger's focus is now on ensuring Mkhitaryan can "express his incredible talent" for Arsenal following a mixed 18 months in the Premier League under Jose Mourinho.
"Overall, I believe we lose a world-class player and we gain a world-class player. How efficiently that works will be down to the performances of both players," he added.
"Mkhitaryan has the qualities to integrate into our game. He has a good team attitude and I'm confident it will work. He can play in all kinds of positions so I think he's very versatile and it should help us to be very efficient.
"It's my challenge to get him to express his incredible talent.
"I would say he can bring quality of runs, quality of creativity, he can be very penetrating with his passing and his runs. He knows what it is to fight at the top level."
|Rain delays Ostapenko in Seoul, Wang books Guangzhou semi|
|Pochettino backs Kane to end goal drought|
|We figured it out - 76ers´ Markelle Fultz rebuilds jump shot|
|Joshua: Povetkin my second-toughest fight|
|Relaxed Pochettino not pushing panic button|
|Why Manchester City fans must fix their relationship with the Champions League|
|Majestic Giorgi ends Wozniacki´s reign in Tokyo|
|Pochettino unwilling to risk Alli fitness|
|Bigger Champions League tests to come, warns Pogba|
|Eight for 10! - Nadeem spins his way to world-record figures|
|A 4-1 lead cut to 3-2 by VAR, but Quakes have no complaints after Atlanta defeat|
|UEFA opens disciplinary proceedings against Ronaldo|
|Joshua v Povetkin: Recapping AJ´s previous world title defences|
|Players told to ink twice over showing tattoos at Rugby World Cup in Japan|
|Mariano targeting Spain call-up after goalscoring Madrid return|
|Pandya, Axar and Thakur out of Asia Cup|
|England omit Cipriani, Tuilagi and Ashton called up|
|Can reacts to Ronaldo´s red card: We are not women|
|One Year to Go: Five Rugby World Cup debutants set to shine|
|Shy Osaka not comfortable with new-found fame|
|Belgium and World Cup winners France make FIFA rankings history|
|Ronaldo wanted to impress - Bernardeschi sympathises after Juve superstar´s red|
|Van Dijk warns Liverpool: Believe we can win trophies or stay home|
|Menezes complains of anti-Brazilian conspiracy after Dede´s VAR red|
|Diamondbacks rout Cubs to remain in postseason picture|
|Modric embraces Ballon d´Or chants as Di Francesco backs Madrid star for award|
|MLS Review: Martinez helps Atlanta stage comeback amid VAR controversy|
|Kerevi recommits to Wallabies, Reds|
|Lyon to ban fan for life after footage of Nazi salute emerges|
|Milan must respect opponents – Gattuso not underestimating Dudelange|
|Copa Libertadores Review: Zarate leads Boca, River draw|
|Mourinho: Dalot can play at Man United for more than 10 years|
|Johnson hoping to erase East Lake demons|
|´No question´ Fitzgerald faces Bears, says Cardinals´ Wilks|
|Rodgers says roughing the passer penalties are ´going the wrong direction´|
|Ravens fined $200,000 for violating communication policy|
|LeBron James set to star in ´Space Jam´ sequel|
|Ronaldo red card ´absurd´, says Pjanic|
|Kovac hails ´special´ Sanches after Bayern goal|
|Marcelino: Tearful Ronaldo said he did nothing wrong|
|Fernandinho takes blame for Man City´s Lyon loss|
|Lovren denies any wrongdoing after perjury charge|
|Plzen boss Vrba slams late mistakes|
|I almost scored as many as Messi - Tagliafico the unlikely hero for Ajax|
|Ronaldo deserves Ballon d´Or not Modric, says Casemiro|
|United fan Rafael - I´ve never lost at City|
|Davis explains abrupt mid-game NFL retirement: ´Football is not for me´|
|Lopes pays tribute to under-fire Lyon coach Genesio|
|Toulon´s Bastareaud handed five-week ban|
|Steelers WR Brown disciplined for missing meeting|
|Arteta refuses to make excuses for Manchester City´s Lyon loss|
|Allegri calls for VAR after Ronaldo´s contentious red card|
|Championship Review: Boro go second, Birmingham still winless|
|Lopetegui: Mariano took his chance|
|Juventus proved their quality after Ronaldo red card - Bonucci|
|Pogba ´class´ impresses Mourinho|
|Man City not Champions League favourites, insists Bernardo Silva|
|Isco calls for Modric to win Ballon d´Or after Champions League win|
|Wawrinka into last eight in St Petersburg|
|Goal hero Pogba is one of the best in the world - Shaw|
|Sane SOS can´t salvage sorry City display|
|Hoffenheim will learn lessons from Shakhtar draw, insists Nagelsmann|
|Valencia 0 Juventus 2: Pjanic hits the spot after Ronaldo sees red|
|Viktoria Plzen 2 CSKA Moscow 2: Krmencik heroics undone by late show|
|Benfica 0 Bayern Munich 2: Sanches returns to haunt his former club|
|Young Boys 0 Manchester United 3: Pogba double inspires Red Devils|
|Manchester City 1 Lyon 2: Cornet and Fekir stun Champions League favourites at home|
|Real Madrid 3 Roma 0: Isco stunner sets up winning start for Champions League holders|
|Ronaldo sent off on Champions League debut for Juve and may miss United reunion|
|Shakhtar Donetsk 2 Hoffenheim 2: Maycon denies Nagelsmann´s side|