Arsenal chief Ivan Gazidis insists they can compete with Premier League rivals over player wages.

Gazidis also said Arsenal would be able to compete with the likes of Chelsea and the Manchester clubs in terms of player wages.

He said: "We don't have a salary ceiling. I don't know where that story comes from. We have a very sophisticated business model that looks at what we need to do to compete today and what we need to do to compete next year and five years from now.

"I'm comfortable we will be able to be competitive in whatever environment is created.

"We are not looking for credit for being a self-sustaining club. I do think it is the right model for us.

"It gives us stability and the ability to look forward with confidence without worrying too much about the ups and downs, the competitive cycle or the economic cycle."