Bad news for Arsenal fans as Gunners chief executive Ivan Gazidis believes the club’s current squad is good enough to win the Premier League for the first time since 2004.
While fellow title contenders Chelsea, Manchester United and Manchester City will spend big this summer in an attempt to win the title, Arsenal with more than £100 million in cash reserves seem content to basically stand still for the second consecutive summer.
Last summer manager Arsene Wenger did not recruit a single outfield player, buying goalkeeper Petr Cech from Chelsea, and only added midfielder Mohamed Elneny from Basle during the January transfer window.
This year he has brought in Switzerland midfielder Granit Xhaka but Gazidis has warned supporters not to expect an influx of big-money signings.
‘This approach, for us, gives us a very, very powerful balance because it’s not just about spending money but about how you spend your money and doing it wisely,’ Gazidis told ESPN.
‘It’s about having a strong core philosophy and values within the club that players buy into and our fans can be proud of.
‘These are all things that lead to success, and when you look at Arsenal over the last four or five years, there’s no question that the squad has been progressing in strength.
‘We’ve got a squad now that we believe is capable of competing to win the Premier League. We came in second last year, which was disappointing. But we’re on the right track.’
Arsenal, who face Lens in their first pre-season friendly on Friday night before flying for two matches in the United States, now have the financial muscle to compete for the biggest names following years of being beaten to the punch as they continued to pay off their move to the Emirates Stadium.
But Gazidis insists they will continue with their policy of believing in their young talent and do not operate to a model that would see them match the money being spent by rivals with wealthy backers.
‘We’re making progress in what is a fiercely competitive world, against competitors that have the capability to spend far more money than we do,’ he said.
‘We’re doing it by being very, very disciplined; spending money where we believe it makes a difference, but also giving young players a chance and believing in ourselves and our values.’
Arsenal have signed young Japan striker Takuma Asano as well as Xhaka but, given the belief in the current squad, there may be no further additions to Wenger’s attacking options despite a long-term injury to Danny Welbeck and both Olivier Giroud and Sanchez set to miss the start of the season following international exertions.