Arsenal chief executive: We can compete with Bayern Munich

 Ivan Gazidis recently told reporters that Arsenal are entering an “escalation of financial firepower” and that the club will easily be able to pay the transfer fee and excessive wages of a player like Wayne Rooney.

When asked about Rooney and whether Arsenal could afford his £200k+ weekly wages, Gazidis said: “Of course we could do that. We could do more than that.

“We have a certain amount which we’ve held in reserve. We also have new revenue streams coming on board and all of these things mean we can do some things which would excite you.

“If Arsene thinks signing big names is the right thing to do, yes. The fact is this year we are beginning to see something we have been planning for some time, which is the escalation in our financial firepower.

“We can look at some options that weren’t really in our financial capability. It’s a progression over the next two seasons. It’s quite significant for the club.”

Gazidis didn’t elaborate on manager Arsene Wenger’s targets but it seems that the Gunners will finally be able to compete in the transfer market against their west London rivals Chelsea as well as the two Manchester giants. 

Gazidis reiterated that Arsenal is a very ambitious club and that next season could be the one to end the eight-year trophy drought. He even likened the Gunners to European champions Bayern Munich.

“We should be able to compete at a level like a club such as Bayern Munich,” he said. 

“I’m not saying we are there by any means, we have a way to go before we can put ourselves on that level.

“I think we are an extraordinarily ambitious club.

“This whole journey for the past ten years has been about putting us up with the best in the world and now the question is turning that platform now into on-field success.”

Gazidis also hinted that Wenger will extend his contract as he believes Wenger is the man to bring long-awaited success to the Emirates once again.

“We are looking forward to being able to put together something that will make our fans excited optimistic and most importantly it will have us in competition to win something next year,” said Gazidis.

“What I will say is that we think we have got a fantastic manager. We hope that he wants to do what he is doing for the long term.

"I believe he does.

"I think he is still ambitious, still driven and sees the potential of the club as he looks forward and I think he is very excited by that.

“We have a great relationship, and he has a great relationship with the board as well.

"So, quietly and at the right time I think we will make an announcement on that when things are all put in place.”