Arsenal boss Arsene Wenger knows failure to qualify for the Champions League will wreck his summer transfer plans.

Wenger has recognised the need for a major clearout at the end of the season.

The club's half-yearly accounts will be published this month and, following the sales last summer of Cesc Fabregas, Samir Nasri and Gaël Clichy, a likely profit of £55 million is set to prompt disquiet among fans, says the Telegraph.

Wenger, though, was frustrated in January by the unavailability of his main targets and preferred to keep his budget intact. He is still tracking Cologne's Lukas Podolski, Borussia Dortmund's Mario Götze and the Lille playmaker Eden Hazard, but knows that Arsenal would have little hope of competing for such sought-after players if they do fail to reach next season's Champions League.