'Stagnating' Arsenal to splurge big money on new talent to end 8-yr trophy drought

Arsenal CEO Ivan Gazidis has said that the club now has the spending power to provide manager Arsene Wenger with big money to spend on much-wanted talents for turning the club into a major title contender and ending the eight-year trophy drought.

The summer will witness Arsenal's huge investments to bring in the right talent to the club who can help bring silverware in Holloway and in Europe, the Sun reports.

Gazidis said that the football club has worked hard enough to be capable financially and be at the peak, adding that the club and its fans intend to see the players reaching for the Premier League and Champions League trophies.

Gazidis expressed confidence that the club will win trophies if they are able to compete at the Premier League levels.

According to the report, Arsenal is prepared to sign a 30million-pound-a-year kit deal with Puma and will also negotiate contracts with other parties for luring stars such as Manchester United's Wayne Rooney and Real Madrid striker Gonzalo Higuain.

The report said that Wenger has been reluctant on spending to bring new talents to the club in recent years and has also not won a trophy since the 2005 FA Cup.

However, Gazidis said that Wenger now intends to spend big and insists that the experienced manager is perfect to bring in the talents he believes in and spend the money in the best possible way.