Once upon a time there was an ambitious football club in North London...

Once upon a time there was an ambitious football club in North London.

Managed by a Hispanic gentleman, their fans demanded success with style.

This team wanted to play with panache and excitement, just like they did in the good old days (of black and white) when they last won the title - and that was more important than grinding out 1-0 wins.

So it was with no lack of gloating that they started this season fully expecting to end their trophy drought and usurp their rivals down the road.

The chequebook had been out and the board knew that it had been money well spent. After all, with a forward line packing that much power, who could stop them? It would be just like the Hungary team that had the mentality: “You score two, we’ll score five!”

Those forwards included: 'Edward' Sheringham, Jurgen Klinsmann, Darren Anderton, Ilie Dumitrescu and Nick Barmby.

Sadly for the Hispanic gentleman, Ossie Ardiles, T*ttenh*m won less than half their Premiership games and he was dismissed having failed to produce the success that the big-spending board had expected.

Fast forward almost 15 years, and that fairy tale looks to be repeating itself.

This time, the so-called ambitious club from North London has a forward line of: Giovanni Dos Santos (Barcelona reject), David Bentley (Arsenal reject), Roman Pavlyuchenko (Euro2008 'star' for Russia but do YOU remember him?), Aaron Lennon (known more for his shaved eyebrow than his wing play) and Darren Bent, (tagged as one of the worst buys of the summer '07).

There is even talk that they will add to their top-heavy squad by finally signing three-game wonder Andrei Arshavin in January.

Defeats to Middlesbrough and Sunderland in their first two games put things into perspective and any crowing from their fans to Gooners up the road seems now to have been replaced by reality.

T*ttenh*m simply don't have what it takes to challenge Arsenal, however much they spend and, as you can see from the constantly strained look on Daniel Levy's face, he knows it too.

But there's a serious lesson here and one worth remembering.

Aside from T*ttenham, think of the money Rafa Benitez has spent at Liverpool. Sure, he's brought in quality such as Fernando Torres and Pepe Reina, but the merry-go-round of players that come and go at Anfield suggests that despite winning the Champions League, a consistent season challenging for the title is beyond him.

And it could well be the case at Manchester City as well. They may now be the richest club in the world - providing the Abu Dhabi United Group bid holds up - and the new owners may well have "really deep pockets" but does that guarantee success?

Virtually every Gooner has made it clear that some more investment in the squad this summer would have been appreciated and that the limited squad size could well prove to be our downfall if we suffer with too many injuries.

But at the same time, I'm somewhat proud that, unlike clubs up and down the country, Arsenal are trying to run the club with a diligent and responsible attitude rather than chase a quick buck from investors who, let's face it, will want their money back with profits at some point. It's not for no reason that we were called the Bank of England Club in decades past.

Money doesn't necessarily buy you love or trophies - there are precious few of the latter to go around - and if all we Gooners want is to see the Arsenal spend big to win silverware, we may as well switch allegiances now and chase the false gods that own Man City and Chavski.

So let's stop the bickering - it won't do us any good - and let's back Arsene Wenger, support the Arsenal and prove to the rest of England, if not Europe, that football's soul is not for sale.