Thursday 15 October 2015 13:51, UK
Arsenal chief executive Ivan Gazidis has defended the club's transfer policy, insisting "you don't sign players like Mesut Ozil and Alexis Sanchez unless you want to win the league".
The Gunners have not clinched the Premier League title since 2004 and a perceived lack of investment over recent seasons, especially in the playing squad, has caused a degree of unrest among supporters.
But, addressing fans and shareholders at the club's Annual General Meeting at the Emirates on Thursday, Gazidis said all transfer decisions are made by manager Arsene Wenger.
Gazidis said: "We have been active in the transfer market in recent seasons. Out of 27 current players only nine formed part of same squad four years ago.
"We have only added players because they add something tangible to our squad not just because we have money available. Mesut Ozil, Alexis Sanchez and Petr Cech show how the board will release funds for signings at any point.
"You don't sign players like Ozil and Sanchez unless you have ambition to win the league and you don't sign them without Arsene Wenger.
"All transfer are football decisions and are therefore made by our manager. We have invested record sums in building a team to challenge for the title. Talent leads, not money."
Arsenal chairman Chips Keswick faced immediate and tough questions from shareholders about the £3m payment recently made to owner Stan Kroenke's company Kroenke Sports & Entertainment (KSE).
But Keswick defended the payment as "right to pay for wide range of services" and Gazidis followed up his rebuttal by revealing a new £30m investment in the club's London Colney training ground.
Gazidis said: "We are investing in the best people, scouting, medical, analytics, and many are from outside football. These changes will keep us ahead of the game. Our strategy is youth development, player signings, and player retention."
