Arsenal Chief Denies £40m Budget Claim

Managing director Vinai Venkatesham has played down the rumours Arsenal only have £40m to spend on new players this summer. The Gunners were understood to have limited funds to improve head coach Unai Emery’s squad after missing out on the Champions League for the third season running.

Previous reports suggested they would only have £40million at their disposal, with the potential to raise more funds through the sale of current members of the squad. So far, Arsenal have landed 18-year-olds Gabriel Martinelli and William Saliba on permanent deals, while Spanish midfielder Dani Ceballos has joined on a season-long loan from Real Madrid.

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Venkatesham has now revealed that transfer chief Raul Sanllehi’s financial parameters are fluid, and that appears to have been backed up by reports Arsenal have agreed a £72million deal for Lille winger Nicolas Pepe. “I don’t recognise this £40m figure, I have read it a lot,” Venkatesham told a Q&A with supporters. “That doesn’t come from us, that doesn’t come from the club.

“The numbers never come from us. We never ever, ever, ever talk about how much money we have to spend because that’s the least helpful thing you can do. “It is true that our funds are more limited after three years in the Europa League, but the budget isn’t £40m. We have the budget to make a difference, but as Raul says, this is a particularly tough window and we’re in the middle of it. I sense and understand the frustration, but there is a huge amount of misinformation out there in the market.”