Arsenal Has ‘Substantial’ Funds to Invest in New Players, CEO Gazidis Says

Arsenal has “a substantial amount of money” to spend on new players during the current trade period, said Ivan Gazidis, the Premier League soccer club’s chief executive officer.

The Gunners yesterday signed Ivory Coast striker Gervinho to a long-term contract for an undisclosed sum as manager Arsene Wenger tries to bolster his squad after the club finished its sixth straight season without a trophy.

“We still will be active in this window,” Gazidis said in comments on Arsenal’s website. “We haven’t finished our business at all. We’re just not conducting it publicly; we’re working hard privately.”

Wenger is said to have about 35 million pounds ($56.2 million) available to him for fees and salaries, the Daily Telegraph reported. Gazidis said he and Wenger spent “an extended period of time” during the club’s weeklong tour to Asia discussing their transfer strategies and targets.

“The resources are there,” Gazidis added. “We’ve got a substantial amount of money that we can invest. The important thing for us, which can be frustrating, is not doing it only in response to a public clamour but in a way that can positively impact our performance next year. That’s the focus now.”

To contact the editor responsible for this story: Dan Baynes at dbaynes@bloomberg.net

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