Arsenal chief executive Ivan Gazidis believes the managerial changes at Manchester United, Chelsea, Manchester City and Real Madrid have slowed down the transfer market.
Speaking at a Q&A with selected journalists the Emirates Stadium official insisted Gunners manager Arsene Wenger was busy in the transfer window but claimed business was currently slow.
He put this down to the raft of managerial changes that some of Europe’s biggest clubs have been going through.
Sir Alex Ferguson’s retirement saw the first new manager at Manchester United in 26 years when David Moyes was appointed.
Roberto Mancini was sacked from his post at Manchester City and is expected to be replaced by outgoing Malaga manager Manuel Pellgrini.
Meanwhile, Chelsea have made Jose Mourinho manager for a second time after he left Real Madrid, who in turn are reportedly set to appoint PSG manger Carlo Ancelotti.
That will leave the big-spending Ligue 1 champions looking for a new manager and they are unlikely to sign a manager that doesn’t already have a big reputation.
“It doesn't only require our decision, it requires player decisions and other clubs' decisions,” he said when asked about the prospect of getting Arsenal’s business in the transfer window done quickly.
“So there is a market that has to move not just dependant on one party, but dependant on a number of parties and many of those parties have been in a period of uncertainty.
“I don’t want to get into the whole speculation around the transfer market but generally, what I’ll say is that it has been quite a slow start and I think that’s because there was such a managerial musical chairs going on that everybody is waiting for that to settle down.
“I think clubs, agents and players are, which means it has been quite an unusual beginning to the transfer window. I imagine once most of the managerial appointments settle in a little bit, we will see that starting to pick up.”