Arsenal broke their transfer record by signing Mesut Ozil in the deadline day of the summer transfer window.
The Gunner splashed out a staggering £42.5million for the former Real Madrid star but the Arsenal Supporters' Trust has called on the north London club to spend further on squad.
Premier League clubs spent a record £630m this summer. North London rivals Tottenham spent in excess of £105million in the transfer window bringing in a handful of stars to White Hart Lane, dwarfing Arsenal's spending considerably.
Arsenal have a lucrative £150million sponsorship deal with Emirates and financial results show the club has cash reserves of £153.5million. The fans' association believes this revenue must be spent if the club is to remain contenders at the top of the Premier League.
"We are encouraged that since the season ended much progress has been made by Arsenal to remove the non-performing players from the wage bill.
"This pruning has allowed scope for more concentrated wage spend," an AST spokesman said in a statement published in the Guardian.
"Arsenal are in a healthy financial position, with substantial cash reserves and this money needs to be used by bringing in new talented players to improve the chances of winning silverware."
Arsenal chairman Sir Chips Keswick said: "It is my job to ensure we steer further along the course we have set. We must continue to grow commercially to provide the club with the best opportunity to achieve success and we must do this in a way which remains true to our values and which ensures and protects the long-term sustainability of the club.
"With the Ozil transfer I believe we have made a significant statement and when Arsene decides the time is right to invest again Stan Kroenke, myself and the rest of the board will be delighted to support him.
The Arsenal chairman concluded: "We have a manager in Arsene who is as focused and determined to win trophies as he was when he first arrived."
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