Arsene Wenger has put up with years of criticism for his frugality in the transfer window.
Before yesterday's £42.4m deal for Mesut Ozil, there were serious concerns that the summer window would close with close to £100m in transfer funds sitting idly in the bank.
However, Arsenal weren't to be denied their marquee signing. They worked hard all summer for a big name and, although they left it late, they finally got their man in the form of the German international.
This deal, so long in the coming, represents more than an end to the austerity measures put in place when Arsenal launched plans to relocate to the world-class venue that is the Emirates stadium. It shows that with patience and clever business plans, football clubs can stay competitive as well as profitable in today's game.
In fact, before the start of the season, figures revealed that Arsenal had made a net profit on transfers since moving to the Emirates in 2006.
Selling players like Cesc Fabregas, Samir Nasri and Robin van Persie was not done for footballing reasons. They were carefully calculated financial gains, executed in order to keep Arsenal in the black and paying off their debts on schedule.
Now Arsenal have funds in abundance. Their new shirt sponsors Puma will soon be paying the Gunners £30m a season to provide the team with their shirts. Fly Emirates, who have sponsored Arsenal since the stadium move, renewed their deal as well.
Fly Emirates will be paying Arsenal £30m this season, which is £24.5m more than they paid them last season.
Puma's agreement will provide Arsenal with a consistent £30m a season. Their former sponsorship deals were mostly paid upfront and the funds were ploughed in to the stadium straight away. Now the money is available to strengthen the squad.
These spectacular deals could only be brokered by the best financial figures in the game. Luckily in Ivan Gazidis Arsenal have one of the most influential businessmen in sport.
These deals represent some of the biggest in world football. Despite Arsenal's inability to compete for trophies over the last eight years, Gazidis convinced sponsors that Arsenal's brand was worth top dollar.
The whole board has worked together, in conjunction with Arsene Wenger, to keep Arsenal competitive whilst juggling the financial responsibilities of funding a stadium move by one's self.
Wenger has done exceptionally well to keep Arsenal in the top four and can cite bad luck for not having won a trophy in nine years. Three narrow cup final loses, coupled with the injection of billions of pounds in to clubs that were previously nowhere, has given Wenger a bigger fight than he was expecting. Somehow, he has come out of the storm with Arsenal's place in Europe's elite intact.
Signing Ozil confirms the end to the austerity measures that Wenger has had to manage under for a decade. His pursuit of Luis Suarez proves he is in the market for more than just one major player.
Arsenal were unlikely in the transfer market. It could have been so much better and no doubt it will do in future windows.
There is no doubt that Arsenal are ready to compete with the big boys. Any world-class star that comes on the market can now expect to get a call from Arsenal. The fact that they have found themselves in this position without the help of a oligarch billionaire is testament to the manager and the chief executive.
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