Lord Harris of Peckham has revealed that Arsene Wenger has been given sufficient money to turn Arsenal from pretenders to contenders next season.
The director said he and the board have given Wenger the go-ahead to spend significant funds in the summer transfer market and says Arsenal could easily break the club's record transfer fee in the process.
The reported transfer budget of £100m will be used to sign a striker, a midfielder and a right-back whilst a new goalkeeper is also on the cards.
Lord Harris says Arsenal are only a handful of players away from being a dominant force not just in the Premier League, but in Europe as well.
“We want to win the Premier League and the Champions League,” Lord Harris told the Evening Standard.
“If we buy two or three players then I think we can. We want to win. We don’t want to be second, we don’t want to be third and we don’t want to be fourth. We will support Arsene with the players he wants to buy. He has always been encouraged to spend.”
Arsenal have emerged from a tight financial situation and now find themselves with ample funds after years of austerity. New deals with Emirates and Puma allowed Wenger to treble Arsenal's transfer record last summer to sign Mesut Ozil from Real Madrid.
Lord Harris tantalisingly admitted that the record could easily be broken again this summer should Wenger find a player worth spending the money on.
Asked if Arsenal would break their transfer record again this summer, the Arsenal director said: “We would. It would be easy.”
He added: “There is a lot of paper talk. I wouldn’t say it [the total transfer budget] is £100m, I wouldn’t say it’s £50m and I wouldn’t say it’s £150m.
“If Arsene has asked for any player then we have always backed him to go and buy. With the exception of Messi, Ronaldo or Bale; we could buy most players.”