The powers that be at Arsenal are growing fearful that their summer transfer business will finish with the signing of Mathieu Flamini, reports the Daily Mirror.
The re-signing of Flamini was confirmed yesterday after putting pen to paper on a two year deal believed to be worth £30,000-a-week.
Flamini became Arsenal's second acquisition of the summer after the signing of Yayo Sanogo - another free transfer - was completed earlier this summer.
The lack of spending has come as a surprise to all - including the Arsenal board - after Arsene Wenger was given a free license to spend anywhere up to £70m.
Wenger had claimed to be ready to spend this summer after his team sealed fourth place. He then reiterated that desire after Arsenal beat Fenerbahce 3-0 in the first leg of their Champions League play-off.
Arsenal were subsequently linked with a host of world-class players, mainly Mesut Ozil, Angel Di Maria and Karim Benzema, but none of these deals are close to being completed.
The north London club have been encouraged by Real Madrid to bid for their unwanted trio but face a battle convincing them to join the Gunners with all of them reluctant to leave the Bernabeu.
The Mirror is also reporting that Arsenal have backed out of their pursuit of Yohan Cabaye and Vicente Guaita after baulking at Newcastle and Valencia's valuations for their stars.
With just three days left and the north London derby providing plenty of distraction for the man in charge of all football matters, it is looking likely that Arsenal will fail to spend a single penny this summer.
There is thought to be growing frustration with Wenger's reluctance to spend on the Arsenal board.
The executives sent a message to Wenger through the mouthpiece of Ivan Gazidis, who spoke of Arsenal's "escalation of financial" and the beginning of the summer.
Such a statement was not just for Arsenal's fans and rivals, it was also a message to Wenger to tell him that the hard work has been done and now he can spend freely.
With Wenger's contract up in 2014, the board know that the fans will not except a contract extension if Wenger fails to reinforce the cracking squad.
Injuries to Mikel Arteta, Lukas Podolski, Alex Oxlade-Chamberlain and Thomas Vermaelen have left the team at breaking point with Wenger struggling to fill the bench on Sunday afternoon.
Several youth team players will be filling the bench when the crunch tie against Tottenham takes place, whilst Spurs have reinforced their team with a handful of talented players.
There is still time for Wenger to spend and is believed to be particularly keen on Ozil and Di Maria but as the hours go by, it is looking increasingly likely that his bulging wallet will remain closed until at least January.
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