Arsenal boss Arsene Wenger backs UEFA's controversial Financial Fair Play laws.

Wenger also believes the eventual implementation of Financial Fair Play can have a positive impact on both Arsenal and the league as a whole.

"We need first to see how effectively financial fair play can be enforced before we can fully understand the impact but I believe it will make for a more exciting Premier League," Wenger said.

"When you look at the history of England, there are Nottingham Forest, Aston Villa and Derby County who have all won championships.

"If that is possible again it will be even more interesting.

"If the rules are well introduced, it will be a massive advantage to Arsenal Football Club, of course, and we will be well positioned for that.

"I don't want to go into excuses but you want a business to be run properly and I believe that to lose £150million a year, you don't deserve a lot of credit to win a competition.

"I think that it is right that you balance your books - to accept the one basic principle for every company - and that's that you can spend the money which you make.

"That principle just seems to be a common sense and logical one."