Arsenal boss Arsene Wenger could be on the brink of a massive spending spree.

The Mirror says Arsenal are bidding to renegotiate their Emirates shirt sponsorship deal, which they hope will lead them to matching Manchester United's £20m a season deal with Aon.

Should Arsenal succeed in their search for a new sponsor, they could use some of the cash to buy out their Emirates deal - and boost Wenger's transfer kitty.

The Arsenal boss has been linked with a move for highly-rated Inter Milan starlet Mario Balotelli, who would cost upwards of £15m.

The Arsenal boss is also said to be keen on prolific young Barcelona striker Bojan Krkic while another target, Bordeaux's Marouane Chamakh is available for as little as £2m as his deal expires in the summer.