According to The Independent, Wenger confirmed that Van Persie denied a huge offer from the Barclays Premier League champions.
The Dutch hitman is set to face his former club for the first time on Saturday since switching to United in a £24 million transfer move. The Red Devils had thrashed Arsenal 8-2 last season.
Van Persie, who scored 37 times for Arsenal last season, continued his sublime form with United scoring nine goals in 12 appearances.
Wenger denied commenting over the reason for Van Persie to snub City's millions but it definitely cannot be financial as a £1m plus monthly is hard to turn down.
Van Persie's move to Old Trafford was the most talked about transfer during the summer transfer window. City, along with Juventus, were eyeing the Dutch striker who finally agreed terms and completed a £24m move to United.