Updated - History says Arsenal coffers will not be seriously dented this summer

Few people get to know Arsene Wenger really well.

His life is football and, apart from his wife Annie, I suspect there are only a handful of people who have ever got really close to Le Gaffer.

One of the stories in biographies about Wenger talks of his experiences at Monaco. He was putting a good side together and they were impressing everyone in Europe.

Monaco’s great rivals were Olympique de Marseille, then run by Bernard Tapie. Money was no object to the politician turned owner – and many of us may remember his signings of the likes of Chris Waddle, Trevor Steven and Jean-Pierre Papin.

Ony today, Wenger spoke of his concern about clubs who don't balance the books: "I think teams who have deficit should be kicked out of Europe. The only way to go is that there is a control over all of Europe, and I think it will go that way whether you like it or not.

"Uefa will bring in a control of the management of every individual club and every individual club will be controlled. It is very important for the fans of the competition first, and it is very important that every club lives with the resources they have available - clubs should not speculate and then after one year they cannot pay the salaries for the next seasons.

"Every transfer nowadays in Europe is paid over two or three years, and it is compulsory that Uefa controls that the commitment of the club is right, because if that does not happen, it can all collapse very quickly."

With a Masters in Economics, Wenger was repulsed by the club spending money beyond its means – and even more so by the corruption he suspected was taking place to deny his club a fair challenge to the title.

On the corruption front, as history shows, Wenger was correct – Tapie was banned from football and Marseille were stripped of titles including the European Cup.

I’m not sure now whether Wenger always had a vision for Arsenal to create a side of young players with few experienced ‘stars’ joining the ranks.

Certainly, he oversaw the revolution at the youth academy to the point where it is now producing quality players both for the team and the coffers when they’re not quite up to his exacting standards.

But I wonder whether Wenger’s attitude really changed when Roman Abramovich took over at Ch*vski.

All of a sudden, the economics of football was out the window and players could be bought for whatever the cost. Who else could make such a loss on Shaun Wright-Phillips or Andrei Shevchenko and still claim it was good business?

So regardless of today’s ‘revelations’ that Wenger has money to spend, somehow I doubt he would EVER buy a £30m player, even if the likes of Klaas-Jan Huntelaar, YaYa Toure, Micah Richads or someone else who has already made a name for themselves might add something to our squad.

It is vital Arsenal beat Newcastle tomorrow before the international break (please stop these infernal interruptions to the domestic season, UEFA, us proper fans don’t care about them!) and that hardly gives Wenger much time to sign someone.

Whatever happens on Saturday, he has essentially 48 hours to sign someone – a player who will add ‘super quality’ to the squad and integrate quickly into the team.

I remind myself that in recent seasons Wenger has brought in the likes of William Gallas, Denilson, Julio Baptista and Lassana Diarra as close to the close of the transfer window as possible.

But I fear that, with Abou Diaby and Amauri Bischoff having a couple of weeks to get closer to fitness now, the signing of a midfield dynamo may not be as much of a priority for the manager as it is for the fans.

In Arsene we trust….