Arsenal boss Arsene Wenger intends to spend big this summer.

The Telegraph says before Cesc Fabregas dropped his Barcelona bombshell, the intention had always been to add two or three senior players and this was backed up by a transfer budget of around £40 million.

With debt having been slashed by more than £100 million, turnover running at record levels and an estimated £45 million in profit beginning to roll in from the club's property investments, Arsenal have never been more financially robust.

"Our financial situation has greatly improved," said Wenger. "We are finally able to buy the players we think we need."