Wenger rules out late deal for Draxler
The highly-rated Germany international has been heavily linked with a move to Arsenal after a number of impressive seasons at the Veltins Arena.
While Wenger is eager to sign midfield cover for the likes of injured duo Aaron Ramsey and Jack Wilshere, the Frenchman stated on Friday that there would be no move for Draxler in the current window.
"The Draxler situation has been created by the newspapers, not by me. He will stay at Schalke," Wenger said, adding that he personally was not a fan of the mid-season transfer window.
"We are still trying to bring one body in because of Ramsey's setback and (Mathieu) Flamini's suspension
"Eighty per cent of the activities happen on the last day. I would scrap the winter transfer window with ease."
Ramsey, who suffered a thigh injury in the 3-1 win over West Ham on Boxing Day, has suffered a setback in his recovery and faces up to six weeks out of action.
"Aaron Ramsey will be out for four to six weeks. I count six weeks," Wenger added.