Arsenal fans have been told the club's spending power means they can compete with Europe's richest clubs in the summer market.

The Sunday Times says their buoyant economic position - underlined by half-yearly figures that show debt plummeting and profits up - will allow them to compete with Europe's major spenders for top players this summer, according to sources with knowledge of the club's finances.

A source with detailed inside information said: "If Wenger wants to sign two £20m players on £80,000 per week each this summer, he has the means to do so."