Some good news…..
Last week Peter Hill-Wood told Arsenal TV that he would support Manager Arsene Wenger in the transfer window and that money would be made available should Wenger wish to spend it.
Now the bad news……
Arsene Wenger insists his policy of snapping up young talent will benefit Arsenal in the long run.
The Frenchman has seen his transfer dealings questioned this season, with many believing the Gunners lack the experience necessary to be considered title challengers.
The North London outfit are, undoubtedly, one of the most exciting sides in England, but an expectant fan base is beginning to lose patience with a developing side.
Wenger, though, is adamant that the club are heading in the right direction and has made it clear that he will not risk the financial security which exists at Emirates Stadium by bringing in a host of big-money signings.
“I think, in the end, what I’ve done is right,” he said.
“I believe that the job of a real manager is to try to be successful with the financial respect of a balanced budget.
“I am proud of the fact that we made £30million profit last season and I will try to make sure we do the same this year.
“People don’t seem to understand that spending £50-£60million doesn’t make you stable. In fact, it puts you in a financially weak position. Some people say that to win they are prepared to make their club explode.
“Here at Arsenal we have two important strengths.
“We have a very young team, which is also very promising and we have a 21st-century stadium and training facilities. We are also in a strong financial position at the moment.
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