Arsenal have 'substantial money' to spend

Arsenal chief executive Ivan Gazidis has revealed the club has a “substantial amount of money” to spend during the current transfer window.

The Gunners' transfer dealings are set to be closely scrutinised this summer after manager Arsene Wenger oversaw a sixth straight season with a trophy last season.

Reports have suggested that Wenger could have a transfer kitty of up to £35 million at his disposal - a figure that could be further boosted should Fabregas or Nasri depart.

Wenger made his first significant deal on Monday when he secured Ivory Coast striker Gervinho for a reported £11 million from French champions Lille.

Gazidis admitted further targets had been highlighted by Wenger.

“We still will be active in this window,” Gazidis said.

“We haven't finished our business at all. We're just not conducting it publicly. We're working hard privately. We understand where the weaknesses have been.

“I'm out in Asia because I could be with Arsene for an extended period of time and think very, very carefully about strategy and targets."

With Nasri and Fabregas continually rumoured to be leaving, Gazidis revealed they were determined to improve the weaker areas of their squad.
 
“We understand where the weaknesses have been,” he continued. “Financially we're in a strong position, we have resources to spend.

“We're certainly not sitting there saying ‘let's hold back on our resources’ for some reason, why would we?”

Fans have seen rivals Manchester United and Liverpool strengthen their squad with big money signings already this summer but Gazidis reassured fans everyone at the club were focused on developing the squad further.

“The resources are there,” he added. "We've got a substantial amount of money that we can invest.

“The important thing for us, which can be frustrating, is not doing it only in response to a public clamour but in a way that can positively impact our performance next year. That's the focus now.”

While either player's departures would be met with frustration in north London, Gazidis revealed the club would be willing to replace them with high-profile names.

“If we found an established world-class player and we thought the economics made sense and he would add to what we could do on the pitch then there's no philosophical objection to that,” he added.

“Arsene has no point of principle to show the world that he can build his own team of young players.

“We have to challenge for trophies in that environment and we will.

“We, as a club, have transformed ourselves in the last decade or so.

“We have no God-given right to be one of the biggest clubs in the world. It's easy to lose perspective on what Arsene is trying to do, which, I think, is an extraordinary vision.”