A new contract for Mesut Ozil, making him the highest-paid player in the club's history, and signing Pierre-Emerick Aubameyang 12 months ago for a club-record fee have played a part in the lack of funds as Emery conceded the winter window will be more frugal for Arsenal.
Emery was non-committal when asked about his former player in his press conference on Thursday.
"I don't know now his [Suarez's] situation but we can only sign on a loan", Emery said. But at the moment I don't have news on that.
"[Emery] has brought a lot of energy to the club", said the 21-year-old.
Steelers president says all options on table with WR Antonio Brown
The Steelers likely will make a decision prior to the start of the league's year on March 13, when trades can start to occur. He was voted to the Pro Bowl and eclipsed 100 receptions and 1,200 yards for the sixth-straight season.
Barcelona midfielder Denis Suarez is close to signing a deal with Arsenal, according to reports from Sky in Italy.
Emery admits the French defender may struggle to keep up with the club's busy schedule, with Arsenal still in the FA Cup and Europa League as well as their Premier League fixtures. We have taken more care in our training and pre-match planning.
When asked whether he would give players a break or make changes to his training regime, Emery answered: 'We are doing that. I know the club is working to find players who can help us, with this condition. "My last conversation with him is very important", Emery said. This training session is important [to work out who can play]. We are working, and also thinking and speaking with our performance [analyst] Darren [Burgess] and Julen Masach [strength and conditioning coach], for this week and this month.
Meanwhile, the search for a centre-back to bolster Arsenal's threadbare defence continues with Konstantinos Mavropanos likely to feature for the Under-23 side against Manchester City on Monday.