Arsenal 'have cash to spend'

Arsenal chairman Peter Hill-Wood insists the club are in a position to compete with their big-spending Premier League rivals in the transfer market.

Last Updated: 26/02/13 at 13:04 Post Comment

Peter Hill-Wood: Says Arsenal have cash to spend on transfer targets

Peter Hill-Wood: Says Arsenal have cash to spend on transfer targets

On Monday the Gunners announced half-yearly profits of £17.8million to the end of November last year and cash reserves of £123.3m.

Those figures have prompted Arsenal fans to demand more money be spent on the team, having lost key figures such as Robin van Persie and Cesc Fabregas in recent transfer windows.

Manager Arsene Wenger said last week the club could afford to buy Atletico Madrid ace Falcao, thought to have a price tag of £40million, should they choose to go after the striker.

Chairman Hill-Wood has backed his claims by insisting Arsenal have the funds to compete for their top targets, telling the Daily Star: "We are in a position where we can compete with most people.

"If there is someone we really want, then the price guide is secondary."

Hill-Wood also defended Arsenal's position amid criticism over their trophy drought, which could stretch to eight seasons this year.

The chairman added: "I understand that they want us to win everything, but so do I. But we are in a damned sight better position than a lot of people."

Manager Wenger has come under fire from some fans over the club's barren run and has been linked with an exit, with his contract set to expire at the end of next season.

Hill-Wood says he is not yet planning to discuss a new deal with the boss, adding: "Nothing has changed on that front. At the moment it is not top of our agenda, or his."

Hill-Wood also insists the Gunners will hold on to their best players.

"Let me be quite clear that our intention is to keep our best players and recruit new talent to make us stronger.

"Although we were disappointed to see Robin van Persie leave the club, we have taken steps to secure our best players going forward and have recently signed Jack Wilshere, Theo Walcott, Kieran Gibbs, Aaron Ramsey, Alex Oxlade-Chamberlain and Carl Jenkinson to new long-term contracts.

"During this financial period we also invested £40.9million in the acquisition of new players, Lukas Podolski, Santi Cazorla and Olivier Giroud, and the extension of other player contracts. More recently we added Nacho Monreal to our ranks from Malaga.

"Our desire is to make everyone connected with Arsenal proud of the club. We know that comes through winning trophies but also through the way we do things and that will remain our constant guide."

Related News

Most Commented

Readers' Comments

Y

ou can win five in a row or lose five in a row... Or in Carver's case you can win one in a row or lose five in a row.

black_waltz
Carver: I'm up to the job

C

AMPAIGN, CAMPAIGN it's a clearly a CAMPAIGN

mario for pm
Chelsea's poor 'respect' rating

S

epp Blatter really is very, very good at this isn't he? Terrible human being, but really good at it.

megabrow (cufc)
Blatter 'like Jesus and Mandela'

Footer 365

Everton 1-0 Swansea: Roberto Martinez insists Romelu Lukaku is the club's designated penalty taker

Everton boss Roberto Martinez insisted Romelu Lukaku is the only penalty taker after his side's 1-0 win over Burnley.

Reading 1-2 Arsenal: Adam Federici's extra-time gaffe sends Arsenal to FA Cup final

Adam Federici's extra-time error gifted Arsenal a 2-1 victory over Reading and a place in the FA Cup final.

Chelsea 1-0 Manchester United: Eden Hazard winner sends Blues 10 points clear

Eden Hazard scored the only goal as Chelsea beat Manchester United 1-0 to move 10 points clear at the top of the table.

Mail Box

Wenger's Titles Down To United Woes...

Well, it's certainly one theory. Man United fans are out in force - decrying Wenger and defending FFP. We have mails on Coquelin, Coutinho and Mediawatch...

Mailbox: The Pros And Cons Of FFP

The mailbox has gone a little bit serious as they debate the pros and cons of FFP. Does it create a closed shop or opportunity? Plus, POTY nominations and...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company