Arsenal boss Arsene Wenger has reiterated his stance that he will not spend money for the sake of it.
Wenger happy with squad after club announce record profits
Arsene Wenger has reiterated his stance that he will not spend money for the sake of it after Arsenal revealed record profits for the year.
The Gunners announced an annual profit of £35.2million for the past year, which does not include the money generated by the summer sales of Kolo Toure and Emmanuel Adebayor to Manchester City.
Reports suggest the Arsenal board are now willing to give Wenger a transfer budget of £50million if he wants to improve his squad.
However, speaking ahead of Tuesday's UEFA Champions League tie with Olympiakos, Wenger does not believe he needs to invest any money in his current squad.
"Listen, there is money to spend, but at the moment I am very happy with the squad I have," said Wenger.
"It's not because I'm against spending money, I have nothing against spending money. But I do not spend money because out of (the) squad is Nasri, Walcott, Bendtner.
"And yet people want me to buy strikers, but where do I put them? I don't know. I have to then lose players, who, for me, are world class.
"If by December we need to buy someone to add to the squad I will do it. Success on the pitch is the most important by far, but success on the pitch cannot be maintained if you are in financial trouble.
"It is true there is money and people reproach me for not losing money. It is not a personal thing, it is just that I have a squad that is strong enough to compete.
"Look at the two last players we bought - Arshavin and Vermaelen. We have spent money. When we bought Vermaelen was he a big name? Certainly not because nobody knew him.
"When I look back at everywhere I worked, when I left the club there was money in the bank.
"But when I see other clubs in the situation they are today I still think it is in some ways not responsible to think you walk away and the club is in deep financial trouble and there's no future."
Meanwhile, Wenger concedes Arsenal took a gamble in appointing him as manager 13 years ago as the Frenchman prepares to become the club's longest-serving boss later this week.
He added: "Yes it was (a gamble) and, when I think retrospectively, that is the biggest surprise to me.
"Because at that time, what Arsenal did, you needed to be a little bit crazy. Crazy in the sense that I had no name, I was foreign, there was no history.
"I don't believe I could only have done that at Arsenal. But I believe I was lucky to find at Arsenal the support, and that is important for success."