Chairman: 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.

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."