This comes as bad news soon after it was announced by Managing Director Keith Edelman that Wenger was close to signing a deal. Edelman also commented on the financial status of the club, saying:
"We are generating more money out of Emirates Stadium than our debt repayment.
"Therefore we are more profitable at Emirates than we were at Highbury and therefore we can invest more money.
"We will have the largest gate revenue in the UK and when our results are produced (in September) and you see the amount of cash the business has got, some of the comments that have been made over the summer are very wide of the mark.
"We're in very, very good financial health and we're financially very strong as a club."
This would lead me to the conclusion that Arsene has plenty of transfer funds to work with (as has been previously stated by various Arsenal officials), but as usual, the frugal Wenger sees no reason to further invest in a squad that has been tipped by many to be stripped of its Champion's League place by the underachieving Spurs. I trust Wenger, but I seriously hopes that he splashes some cash before the end of the transfer window.