The Mail on Sunday says Arsenal are poised to make major additions to their squad in the January transfer window after the club's board met last Thursday to approve transfer strategy.
The meeting was deemed so important that Stan Kroenke flew in from the USA to attend and the Arsenal board, chaired by Peter Hill-Wood, cleared the way for boss Wenger to spend next month, with new chief executive Ivan Gazidis ready to start work on New Year's Day and secure a number of deals on which Arsenal are working.
US sports tycoon Kroenke's presence indicates that the meeting was significant as the American is not intending to attend every board meeting and has told associates he will only fly in when important matters are being discussed.
Arsenal have considered using video conference facilities to accommodate Kroenke, who joined the board in September, for more routine board meetings.
The club are now simply waiting for Wenger to decide which players he wants to move for, but targets are lined up for replacements at centre-half for William Gallas and for a new striker, with Emmanuel Adebayor not certain to stay at the end of the season.