Arsenal chairman Peter Hill-Wood has rubbished reports that manager Arsene Wenger has lack of funds to spend on getting new players to the Emirates Stadium.
The Gunners have sold Thierry Henry, Jose Antonio Reyes and Freddie Ljungberg and have only brought in notable signings in the form of striker Eduardo da Silva and defender Bacary Sagna this summer.
Earlier at the outset of the transfer window the Gunners were linked with the likes of French wingers Franck Ribery and Florent Malouda, Bolton Wanderers striker Nicolas Anelka.
But Wenger maintained his faith in the youngsters he has and has stressed that they are good enough to be in the title race this season.
Reacting to reports of lack of funds, Hill-Wood said: "I don't think we've ever been in a stronger financial position than we are today.
"All these stories that the manager hasn't got money to buy players are absolutely ridiculous.
"We've never denied him funds in 11 years and we're not likely to now.”
"He is extremely sensible though, we've made some changes this summer and I think they've strengthened the squad - but the idea that we need 12 new players or something of that order would simply indicate that the management haven't been doing the right job in the past, which of course they have."
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