Arsene Wenger has 'substantial' transfer funds this summer

Arsenal's chief executive has said that manager Arsene Wenger has 'substantial' transfer funds to spend this summer and is all clear to invest it in one world-class player.

Ivan Gazidis believes there is no 'philosophical objection' preventing the club bringing in a big name and insists that there are more players to come.

"Financially, we're in a strong position. We have resources to spend," he said.

"We will still be active in this window. We haven't finished our business at all, we're just not conducting it publicly. We're working hard privately."

Wenger has already spent a combined £11.6m on Lille striker Gervinho and Charlton Athletic left-back Carl Jenkinson.