Arsenal boss Arsene Wenger is confident their approach to the club's finances is the right one.

Wenger said: "The way we have managed this club will put us in a very strong position in this crisis because we don't live on the edge financially.

"We don't rely on one person to finance us and we won't depend on the banks. We respect our budget and we should not be in trouble.

"Other clubs will not be so fortunate. There are 15 clubs up for sale in England and no-one is buying them. That tells you everything.

"Some of the transfer fees that are being mentioned at the moment are completely crazy but at Arsenal we are not living in dreamland.

"We have a new stadium, we are in good financial shape and we are still playing at the top of the table every year.

"How many other clubs can say that? All the other clubs apart from Manchester United are losing money.

"Chelsea have not built a new stadium and still lose £100million in a year. Arsenal would go bankrupt in that position."