Arsenal manager Arsene Wenger will have 70 million pounds to invest in his squad next year ahead of the final season of his contract as club manager after the London-based club signed an improved sponsorship deal with Emirates Airlines that will net them 30 million pounds a year.
The extra cash follows a new and extended 150 million pound shirt sponsorship deal with Emirates, announced on Friday, to run from 2014 until 2019, that has been partially front-loaded to ensure that there is additional money to invest next summer as Wenger prepares for 2013-14.
Arsenal has received around six million pounds a year from their shirt sponsorship deal with Emirates since 2004 but that figure will rise to 30 million pounds.
The annual difference of around 24 million pounds will be solely available for investment in the club and primarily the squad.
This will allow Arsenal to raise their wage structure so that it is more in line with their main rivals, principally Manchester United, Manchester City and Chelsea, but also to compete on transfer fees for leading players.
"I think we will be able to be more financially competitive and that will enable us to push forward on the field," The Telegraph quoted Arsenal's chief executive, Ivan Gazidis, as saying.
"We can pay bigger salaries and I think we can invest more in transfer fees. How we make those decisions will be based on a manager whose judgment, over the years, has been shown to be outstanding," he added.
"There's nobody I would like to be thinking about those types of decision more than Arsene Wenger. We have got a lot of money coming in. We also kept some powder dry, so we have got the ability to invest if our manager finds the right opportunities in January," he said. (ANI)