"We have three or four months to get through. In January we need to reinforce the squad. We were thinking about a right-winger and centre half, everyone knows that, but when people say we left it until the last minute, that's not true," said Benitez.
"We worked all summer. We never wanted to pay more for a player than his value. We didn't want to sign players we didn't need.
"We tried, but because of circumstances, the clubs wouldn't sell. If a club is willing to sell without a fight, maybe the player isn't good enough. When the club tries hard to keep him, you know you're trying to sign someone of high class.
"Simao is an example, as is Milito and Figo. We watched Simao for a long time, but we were looking at others first because we didn't know if he was available. We decided to try and Benfica said yes. We thought we had control of the situation. Then they changed their mind.
"We also tried to sign centre-backs, but their clubs said no. Clubs think because we've won the Champions League we've got a lot of money. They put a £7m values on players who are no more than prospects.
"If you look at our squad now compared to last May, we've signed very good players and improved. We couldn't find the right players for the right and at centre-half, but because we're European champions, only certain players are good enough to play for us.
"If people want me to buy players to finish in the middle of the table, I can, but I want to win trophies. I will only buy players to do this.
"I have a lot of confidence we will have a better team this year. People may not agree with my decisions, but when I spend a lot of money I want it to be on one of the best players in the world."