Arsenal chief executive Ivan Gazidis has confessed the club has stagnated in recent years.

Speaking at an Arsenal Supporters Trust meeting last night, Gazidis insisted Arsenal can now compete on wages for the game's best players.

"The manager is not scared to spend money but he has to believe they are top-class players who will add to the squad.

"Can I guarantee he will spend all of that money? It depends on the talent. The key is having players Arsene believes in, adding them to the squad and making sure he has a cohesive squad he believes in.

"I accept we haven't done that over the last few years. We have essentially been very consistent - we haven't slipped backwards and we haven't gone forwards. We need to go forwards.

"It is not enough to be watching a video of a last-minute scramble to get over the line into fourth place. No-one at this club wants that."