http://news.bbc.co.uk/1/hi/business/8278166.stm
But what caught my eyes was the following:
Transfer activity
Arsenal have only brought in two players, Andrey Arshavin and Thomas Vermaelen, in the current year.
The club said the "limited" transfer activity was due to Mr Wenger's assessment "rather than any necessity or financial constraint".
"The 2008/09 season was not without footballing success, although the first team finished it without a trophy," said chairman Peter Hill-Wood.
The club has not won a major trophy since the FA Cup in 2005.
"The board's policy continues to be that all proceeds from player sale transactions are made available to Arsene Wenger for re-investment back into the development of the team," the club said.
For all those people here who contuinue to insist that Wenger does not have money to spend, read this article. Wenger has had loads of money to spend in the last coupla years, he chose not to. You can call it overconfidence in his/players abilities, or a general lack of ambition, or avoidance of pressure/expectation that comes with large spending. The facts are that Wenger is not spending the money at his disposal to buy the talent that Arsenal need to challenge for the EPL/CL, and its been 4 years without a single trophy.
I just cannot understand why some Arsenal fans try and justify this. If it were happening at Inter, I would be furious with the coach. To me, its a case of Wenger lacking the balls to spend big amounts. Coz if he spends big money, he will have to deliver silverware, and cannot hide behind excuses. Wenger is just avoiding the pressure, which is sad. Even if Arsenal spend only the money they generate through player sales, they could be one of the top clubs in europe.