Mikel Arteta has stated that the possibility of signing some of Europe's top names excites him.
The Spaniard has also commented on the financial increase that Arsenal have this summer which can improve their chances of bringing in big players.
Recently the London-based club have been linked with the likes of Liverpool's Luis Suarez and Real Madrid striker Gonzalo Higuain and have reportedly submitted bids for the duo this summer.
Arsenal are yet to announce an official signing of a big named player they have added France Under-21 international Yaya Sanogo who they signed on a free transfer. Arteta has admitted his encouragement of Arsenal's interest in Europe's finest.
Speaking to the press from Hanoi, where Arsenal are preparing to take on the Vietnam national team in their next pre-season tour friendly this weekend, the Spaniard has said: "I am excited. They made it public that they are going to go big, and the sort of players they have been linked with makes me happy."
"It creates a good atmosphere and we need to do something because the other teams are doing it, and I think we will," said the 31-year-old.
"I believe we can be contenders again. The fans need that because we haven't won trophies in the last years. They need something back.
"I believe in what we have but if we can strengthen a bit, then we are going to make the gap with the other teams much closer. That's what we're looking for."
Arteta believes that the spending power and the traditions at Arsenal will make them a contender in the battle to sign top names.
"When you compare us to the other top English clubs and the money they have paid, we are very far apart," he admitted.
"The value of this club is the class and what it means is very difficult to match.
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