Arsenal's new manager will be told he must sell if he wishes to buy big this summer.
The Gunners are set to announce their new manager as early as next week - with Mikel Arteta heavily-linked - as Arsene Wenger leaves.
However, the BBC's David Ornstein has revealed whoever takes over will be handed a paltry amount to play with.
Ornstein tweeted: "Arsenal close to appointing boss, next week likely. Start of continental model: head coach slots into predefined structure, will contribute to recruitment decisions & have veto. Transfer targets were discussed with interviewees, pre-sales budget ~£50m."
Arsenal fans are hoping for a brave new world following 22 years of Wenger - with the club in decline in the past decade.
But this latest revelation will prove to be a bitter blow, with clubs including Manchester City and Chelsea tipped to spend well over £100m once more.