Arsene Wenger gives transfer update after claims Arsenal “have $300 million to spend”

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Arsenal boss Arsene Wenger has given an update on his plans for the summer transfer window.

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The Gunners manager was speaking in a press conference ahead of the Emirates Cup this weekend, as plenty of speculation over new signings has arisen following comments from club director Lord Harris on Thursday.

Harris told the Daily Mail that Wenger could buy any player “apart from Lionel Messi and Cristiano Ronaldo” and that “there is over $300 million in the bank.”

Here is what Wenger had to say following Harris’ surprise comments, with the gossip columns continuing to link Arsenal with strikers Karim Benzema, Edin Dzeko and Gonzalo Higuain.

“We are working hard if an opportunity comes up to do something but we do have a strong squad,” Wenger said. “We are in a strong position with a strong squad which I am happy with. If the opportunity turns up we will still do something.”

“I don’t come out with names anyway. I believe we have built up something special last season. That is a good team dynamic, a good confidence level, a convincing and efficient style of play. We want to work on that and not expect too much from outside now.”

Wenger was then asked if he would make another splash on Deadline Day this summer: “I cannot guarantee you that… and I cannot rule it out as well,” Wenger said.

So, the Arsenal chief is playing it cool and is quite content to let that bank balance build up.

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Is that a wise move from Wenger? With the Gunners well-stocked throughout their squad, for the most part his self-control is admirable given plenty of big spending from some clubs in the Premier League this summer. Arsenal definitely need another forward to take them to that next “elite” level in Europe and also to turn them into serious PL title contenders. Olivier Giroud can finish but is he really going to score 30-plus goals a season? As for Danny Welbeck, his injury issues have made his first year at the Emirates a stop-start affair.

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In central defense the Gunners also look short as Per Mertesacker, Gabriel and Laurent Koscielny are the only recognized center backs but the likes of Calum Chambers and Nacho Monreal can slot in there if needed. Right now its clear that the money is there to spend if Wenger wants it, but now everyone knows that, will the Gunners struggle to get a good price for a player they want?