Arsenal have agreed to give £30million to their manager Arsene Wenger in order to bring in new signings to the Emirates Stadium.

Gunners director Danny Fiszman said: “If Arsene said to us, ‘I want this guy and he’s £30m can I buy him?’ the answer is, ‘Yes’.

“Absolutely yes. It would be no problem. It’s not our decision who he spends on nor will it ever be. We back him totally."

Speaking after the Gunners drew Porto, Fenerbahce and Dynamo Kiev in the Champions League Group stage, Fiszman rubbished rumours claiming that Arsenal had limited their expenses in the transfer market, as their finances were held up in building the Emirates.

He said: “That’s total c***. Explain how the stadium bleeds us if it’s producing an extra £30m a year?”