Keith Edelman's departure from Arsenal could loosen the purse strings for manager Arsene Wenger in the summer market.

The Times says Edelman's financial record could not be faulted: the opening of the Emirates Stadium transformed Arsenal's bank balance, with takings each match day soaring to more than £3million. Record profits and record income of more than £200million mean that Arsenal are now rated by Forbes magazine as the third-wealthiest club in the world.

But Edelman was seen as cost-conscious to the point of penny-pinching and insiders say that he was not liked by Wenger. Fans have wanted big-money buys and, although there was much talk of a massive war chest, Wenger has not waded into the transfer market, leading to worries that Arsenal, who have not won a trophy for three years, were being left behind by Chelsea, Liverpool and Manchester United.