Arsene Wenger will have a £35million transfer kitty available to him in the January transfer window, and could use it to challenge Chelsea for the signing of Radamel Falcao.

The Sunday Mirror are reporting that the Arsenal manager could use a large proportion of the club’s recently announced profits to land the highly-rated striker.

Arsenal chairman Peter Hill-Wood confirmed the Emirates Stadium tactician was free to use available funds as he sees fit, whether that is to strengthen the squad mid-season, or not.

“If Arsene wants to use that money during the winter window then, ­absolutely, he will be able to do it,” he said.

“We rely on him to come up with the right people and there will be funds available to him.”

The report claims that Wenger is ready to go head-to-head with Premier League rivals Chelsea in the chase for Falcao, though super-rich French club, Paris St Germain, are also interested.

Blues manager Roberto di Matteo has seen firsthand what the Colombian forward is capable of, he ripped the Chelsea defence apart in the UEFA Super Cup and bagged a first half hat-trick in the 4-1 win.

Any Arsenal bid for the Atletico Madrid man is likely to take up the majority of any January war chest handed to Wenger and the Gunners could struggle to keep up with the Stamford Bridge club and PSG if it comes to a bidding war.

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