Arsenal's board have decided
against releasing major funds for big money signings this
summer.
Gunners chief Ivan Gazidis told the club's website: "With regard
to players, the board decided not to issue permanent capital in the
hopes of signing one or two players in an inflated transfer
market.
"Instead, the focus continues to be on securing the services of
talented young players we have on long-term contracts and making
very selective acquisitions, only where a new signing will add real
value to our already strong squad."
Arsenal have, so far, only
brought in Belgian defender Thomas Vermaelen in what is understood
to be a £10million deal from Ajax.
Gazidis, though, warned just throwing money at the side was no
guarantee of long-term success.
"We have developed some of the best young players in the world,
as they showed by advancing to the last four in the Champions
League," he said. "Simply spending money in the transfer market
does not make a team or guarantee success.
"We have followed a slightly different route to most and have
built, not bought, a team that has players who are highly sought
after and valued by the biggest and best clubs in the world. But we
intend to keep them.
"The club, supported by the talents of Arsene Wenger, has embarked on a longer-term
strategy of building its team rather than buying it."
Gazidis added: "There is a football graveyard of clubs that have
not adhered to these principles and have unfortunately suffered the
consequences. Our responsibility is to build the club so that it
can be successful, not just this season and next season, but also
10 and even 20 years from now."