Arsenal now must capitalise on their £70m capital

Wenger needs new keeper, a defensive midfielder and a striker after coming so close to missing Champions League
Laurent Koscielny
(Photo by Stuart MacFarlane/Arsenal FC via Getty Images)
20 May 2013

Arsene Wenger's job now is to make sure Arsenal are not in this position again. The Gunners’ place in the top four was uncertain until the dying moments of yesterday’s victory and with it their immediate future was in the balance.

Laurent Koscielny had put them on course for a 16th-consecutive finish in the Champions League places but, unable to build on that 52nd-minute advantage, it was only at the final whistle when the visitors’ bench could erupt in elation and relief.

They must not come this close to Europa League obscurity again.

Tottenham will regroup under the promising stewardship of Andre Villas-Boas but as a club, the Gunners are in a strong position to capitalise on the retention of their status among Europe’s elite. After years burdened by the financial consequences of self-funding the move to Emirates Stadium, Arsenal have £70million to spend this summer.

The stadium debt is not paid off but the club’s balance sheet is hugely encouraging. It has been that way for some time. Now is the time to capitalise on that capital.

The wage bill can be reshaped with Andrey Arshavin, Sebastien Squillaci, Marouane Chamakh and Nicklas Bendtner among several overly remunerated players expected to depart Emirates Stadium. Spurs remain unable to compensate themselves for a lack of Champions League income while housed at White Hart Lane.

Arsenal’s matchday revenue is three times that of their north London rivals and they have a real opportunity now to assert their authority once again with the gap between the pair having closed in recent years.

They are a club that have to be about more than finishing fourth. The last remaining unquestionable facet of Wenger’s tenure — his unblemished Champions League group stage qualification record — will remain intact should they successfully negotiate a play-off in August but that cannot be the limit of their aspiration.

Chief executive Ivan Gazidis has been ridiculed by some supporters for claiming the club have “more ambition than any other” despite showing a reluctance to pay the going rate to both keep and acquire top players.

Their financial sensibility in football’s insane economic bubble has always been enviable but it is no longer necessary to be so strict. That is not to suggest Arsenal are about to throw caution to the wind and gamble their future but the club’s books suggest the purse strings can be loosened somewhat.

Contrary to popular perception, Wenger is not afraid to spend big money. The imminent signing of Yaya Sanogo from Auxerre — a young player with potential on a free transfer — is of course a typical Wenger signing but he is expected to break the mould by supplementing promise with proven quality. Wenger has negotiated a difficult period of financial constraint to keep Arsenal competitive — although, of course, without any silverware to show for it — in a climate distorted firstly by Chelsea and then by Manchester City.

They are well placed to meet UEFA’s Financial Fair Play regulations and have earned the money they have at their disposal. They must use it and use it wisely.

There is no possible big-name departure to hang over the club and delay their summer business — they must therefore act decisively. A trophy of some description is essential.

“In the last three months, I believe we have been remarkably consistent,” said Wenger.

“We won every away game so it’s a good springboard for next season, to transfer that belief into the start of next campaign.

“That means we need stability and to strengthen our group if possible. There are many clubs out there with a lot of money so the competition is very hard. There’s not as much talent as money today in football.”

Wenger is right to assert that he has something to build on. Few would argue Arsenal have a poor team — they just need to be bolstered with further quality. A defensive midfielder is essential, as is a centre-forward and a goalkeeper.

As much as their resilience was again on show at St James’ Park — Arsenal finished the season with one defeat from 16 League games, keeping seven clean sheets and conceding only 10 goals in the process — so too were their squad deficiencies.

Mikel Arteta is so pivotal to the balance of this Arsenal team that Wenger saw his questionable fitness due to a calf problem as a gamble worth taking. He lasted 27 minutes.

Jack Wilshere, about to undergo a minor ankle operation, was not deemed able to participate for so long, meaning Alex Oxlade-Chamberlain deputised in a central role.

He has promise in that position but the reshuffle enhanced the feeling Arsenal lack depth in that area. But Koscielny’s goal capped another fine display alongside the excellent Per Mertesacker — raising further doubts over the future of club captain Thomas Vermaelen — and it proved enough to keep them on track.

Whoever finished fourth would have had the financial boost and prestige of Champions League football to attract new players.

Arsenal ended up in that enviable position. It will be a tall order to overhaul Chelsea and the Manchester clubs but they are in a position to try. They must seize it.

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