Arsenal chairman Peter Hill-Wood says there will be money to spend in the transfer market and insists they can compete with their big spending rivals.
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The Gunners announced half-yearly profits of £17.8million to the end of November last year and a massive £123.3m in cash reserves.
Hill-Wood believes their current financial strength has put them in a position where they can afford to spend big money on players and have the spending power to compete with the likes of Manchester City and Chelsea.
"We are in a position where we can compete with most people, if there is someone we really want, then the price guide is secondary," Hill-Wood told the Daily Star.
"Let me be quite clear that our intention is to keep our best players and recruit new talent to make us stronger.
"Our desire is to make everyone connected with Arsenal proud of the club. We know that comes through winning trophies but also through the way we do things and that will remain our constant guide."
Rumours that manager Arsene Wenger would be offered a new deal at the Emirates surfaced last week, and the Frenchman firmly denied those claims in a lively press conference. Hill-Wood admitted a new contract was not an immediate priority for either party.
"Nothing has changed on that front. At the moment it is not top of our agenda, or his." he said.
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