In excess of £8bn will come into the league from new broadcast deals.
But Wenger says clubs will need that additional cash to meet the rising cost of transfer fees and player wages.
"What will happen is the prices of the players will go up and you will need this supplement of money coming in to buy new players," he said.
"I believe that the pressure on spending the money will become bigger and you cannot necessarily distribute the money to other people."
Wenger said the vast amounts of money now being spent on players in China was evidence that the Premier League could fall behind if it does not continue to bring in new talent.
In the past 10 days, Chinese Super League (CSL) clubs have spent:
Wenger says the new trend of spending in the Far East could be a concern and drive up the cost of players across the globe.
He added that the first £100m transfer will soon be "easy to reach".
Asked if the amount Chinese clubs are able to spend on transfers is a worry to the Premier League, the Frenchman replied: "Yes, of course.
"China looks to have the financial power to move the whole league of Europe to China."
But he added: "Will they [the CSL] sustain their desire to do it? Let's remember, Japan started to do it a few years ago but slowed down.
"I don't know how deep the desire in China is, but if there's a very strong political desire, we should worry."
Arsenal boss Arsene Wenger has warned extra television revenue for Premier League clubs will be used to buy players rather than cut ticket prices.