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Arsenal are known for their inactivity during transaction periods, but that seems to have changed since last summer transfer window as they spent big on Lacazette who became the club-record signing having spent £52m to sign him from Lyon before the start of the current campaign.
After failing to convince Alexis Sanchez to remain at the Emirates Stadium during the winter transfer window, Arsenal were forced to break their transfer record when they completed Pierre-Emerick Aubameyang’s switch from Borussia Dortmund for a whopping sum of £55m.
Apart from signing new players, Arsenal were also involved in high-profile transactions which saw Alex Oxlade Chamberlain, Kieran Gibbs, Gabriel Paulista, Wojciech Szczesny, Olivier Giroud, Theo Walcott and Francis Coquelin all moved out of Wenger’s guide to new clubs. The Gunners were able to generate more than £110m from the sales of the listed players.
The latest statistics suggest that the Gunners’ cash reserve has risen to £137.6m from £100.5m since 2016, but the club’s turnover has drastically declined from £191.1m to £167.7m due to their recent failure to qualify for the Champions League.
Keswick, who is Arsenal’s chairman, while speaking with the Express promised Arsene Wenger that there will be release of funds in the summer so that the Frenchman could buy the players whom he believes will help return the club to the class they belong in the Premier League.
Keswick said: “Breaking our transfer record twice in one season and the player contracts we have signed shows our commitment to getting the club back competing for the Premier League.
“However, our strategy remains self-financing and we must accept all the challenges that brings at a time when the inflation of transfer fees, player wages and the fees demanded by agents has become super-heated.
“We need to spend effectively and be the best we can across the whole of our football operations if we are to compete at the level our ambitions for the club demand,” he said.
The Gunners currently sit in the sixth position in the Premier League standings and they might fail to qualify for next season’s Champions League competition.