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Arsenal chief executive Ivan Gazidis has given fans a huge boost by claiming Arsenal can now compete with big-spending rivals.
Over the last decade, Arsenal used to be known for it’s frugality in the transfer market but that began to change a couple of summers back when Wenger spent big to bring Mesut Ozil and then Alexis Sanchez to the Emirates.
Despite the arrival of those marquee players at the Emirates in recent years, many people still see Arsenal as a club that are reluctant to spend big to secure top targets but Gazidis has now revealed that we can actually spend more than what people think.
The chief was speaking at the club’s AGM where he gave a positive report about the club’s finances.
Our financial power was questioned recently when reports claimed Mesut Ozil and Alexis Sanchez are demanding big money contracts before committing their future to the club and Gazidis as dropped a big hint that we have what it takes to match their demands.
Former Gunners Sami Nasri, Robin van Persie amongst others left us to join rivals on a bigger money but Gazidis believes that period is over.
“We have a good track record in recent seasons of retaining our key players, developing young players and attracting new players”, Gazidis said.
“We are now beginning to compete in terms of wages with some of those clubs around us. There is continual growth in investment in wages but also in transfer fees.
“Very importantly our player sales have reduced so we have retained more of our important players. We’ve had funds available to pay market values and as a result the reliance we have had on transfer revenue has gone down dramatically.
“I can’t get into a discussion on individual players but I can assure you we will apply the same focus, rigour and diligence to members of our current squad and I think you can see the direction of travel.
Despite talks about our club being strong enough to compete financially with others, we were unable to lure our top centre forward target for no reason last summer and I think it is high time our financial reports started to reflect in our actions in the transfer market.
Though, I don’t support spending on players for the sake of it but we need to show that we are capable of being at the top financially by moving for quality targets.
In the just concluded summer transfer window we spent in excess of £90m which is the highest we have spent in the last ten years.
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