"The players will see their wages come down a bit and the competition with Germany, of example, will be stronger.
"In my opinion, it is overwhelmingly in the long-term that there are questions to be answered.
"The way in which England will leave the European Union will dictate the future of the Premier League.
"If the league becomes less attractive, the broadcasters will offer less money for the rights, club revenues will decrease and the Premier League will suffer the consequences. There lies the problem."
And Wenger thinks Brexit could throw a 'spanner in the works' both in the short and long-term.
He said: "In the short term, clubs that are quite strong will be able to resist the competition but England is in the process of building a dominant Premier League.
"We thought that one day the best players from Real and Barca would say: 'I also want to go to England because everyone is over there'.
"All of that is now uncertain and Brexit is a spanner in the works. It will have consequences, not in the very short term, but in the long term, yes.
Wenger has already completed a £35million deal for Granit Xhaka and signed Japanese striker Takuma Asano.
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