EXCLUSIVE: Are Arsenal about to give Wenger £60m transfer budget?

By Graham McNorthbank
If whispers Arsenal Addict is hearing out of Emirates Stadium are to be believed, Arsene Wenger is set to break the club's transfer record this summer - and may even do it multiple times.
When Arsenal moved to the new Home Of Football it was with a promise that the larger stadium would allow us to increase our gate receipts and the extra money generated would let us compete with Europe's biggest clubs such as Barcelona, Real Madrid, Manchester United, etc.
That hasn't exactly been the case, either on or off the pitch, but according to one snippit Addict has heard from a reliable source within the club, that is all set to change as the purse strings finally open.
Indeed, if our man is correct, Le Prof could be set to spend up to £60 million this summer to reinforce his squad of young pretenders with experienced world class talent.
The theory is that Arsenal's board were so concerned about the state of the club's finances that a cap was put on player acquisition since our move to Emirates.
The global recession made the money men even more nervous as Arsenal faced certain banking covenants on the loans needed to build the new stadium that if they were not fulfilled would have jeopardised the whole structure of the club's finances.
The good news for us fans is that those covenants have been met and the board have done such an outstanding job in reducing Arsenal's debt to the extent that the £133 million loan they needed to redevelop Highbury will be repaid in full within days.

That means they can now start releasing some serious cash and can for the first time offer Le Gaffer a virtual blank cheque (not quite, but certainly a record budget in terms of the club's history) with which to strengthen his team.
Our source also says that talk of one to three players in the £15-20 million range is possible, meaning we could be on the verge of some remarkable talent coming to North London.
But before you get too excited, that promise comes with one caveat. And it's a big one: wages.
Apparently no matter who Arsene Wenger signs this summer, they will have to fit in with the existing pay structure at Arsenal. In other words, we can compete on transfer fees, but when it comes to the superstars who command anything above £100,000 per week, then you can probably count us out.

Still, with £60 million to spend I'd expect Arsene Wenger to bring some real quality players to the Arsenal, but just don't expect the club to admit how much their budget is in case selling clubs start pumping up the price of their departing stars.