Arsene Wenger has given his permission for Ashley Cole to join Chelsea but is adamant the defender will still be at Arsenal until January.
Asked on Friday where the England leftback would be on September 1, a day after the transfer window closes, the Arsenal manager said: "I think here. Because it has not happened - the transfer period started in June.
"We are at the end of August and still nothing has happened so why should it happen now?"
Cole, the subject of a reported 16.5 million pound ($31 million) offer from Chelsea, will not play in the Premier League opener against Aston Villa on Saturday despite making himself available.
"I've given him permission to move and at the moment we have not reached the deadline," Wenger told a news conference.
"I could put him in the squad and he could be sold tonight so I do not want to be confronted with that situation and as long as you don't reach the deadline he has to be focussed completely with us - to stay and readjust to the ambition of the club.
"He expressed that desire last year and I gave him permission to do it, so I want to keep my word and of course from Monday or Tuesday it will be over.
"I'm not disappointed at all, I respect that. At the moment it doesn't look like [the deal will be completed]."
Wenger said he is unsure why Arsenal and Chelsea had failed to thrash out a deal.
"I don't think that it is any financial problem, I don't know what's stopping it - certainly not our demands."
Despite Cole's desire to leave, Wenger said he would have no problem in selecting him for future games, insisting it would not cause disruption in the Arsenal camp.
"If he's not transferred he will fight for his place like everybody else," the manager added.
"If I have a player here and I think he's good enough to play he plays. What is important to me is the interests of the club, all the egos and hurt or not hurt is not important."