Mikel Arteta has sent a stern warning to Arsenal's board over their transfer activities.

Arsenal have yet to tie down top goalscorer Pierre-Emerick Aubameyang to a contract extension, which means he could leave as a free agent next summer.

And while sales are expected to raise funds, Arteta says the Gunners risk becoming a selling club if they allow top players like Aubameyang to leave.

"We cannot be a team that has to sell his best player to try to bring in and improve our squad, that's for sure," said Arsenal's head coach.

"We don't know how the market is going to be. We have seen different things. The way that Chelsea is dealing with the market is different to rest at the moment, but Bayern Munich as well they've have been really aggressive.

"Obviously we are putting different plans together to see what we are going to be able to do. At the moment the uncertainty is still big. The way we are going to finish the season will dictate a lot of things financially as well. We have to be a bit patient and see what happens."