Arsenal legend Emmanuel Petit has insisted that the Gunners are “going nowhere” with the lowly transfer budget of £60 million (via The Evening Standard).
It was something which caused anger amongst Arsenal fans when it was revealed that the Gunners were operating with a transfer budget of just £50 million this summer.
Since then, further investment has seen that budget increase but it is still eclipsed by the figures many of the Gunners’ rivals are expected to spend this summer.
Now, Arsenal legend Emmanuel Petit has spoken about the club’s financial situation and the former France international is not happy.
“When I hear about the amount of money Emery has to spend, I can’t believe it. Where are you going with £60m? You’re going nowhere,” Petit said.
“With that amount of money, you can put the best manager in the world on the sideline and the team won’t change much. There is quality at the club, but not to match the likes of Manchester City or Liverpool. They need to bring in top quality players.
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“I want to say to the board: ‘can you just stop bringing in young players for one year?’ We’ve had enough of young players. The club is full of them. It’s been like this for 15 years now, we need something else.
“We need talented experienced players. We need big characters and big personalities. This is what has been missing. For me, £60m is ridiculous.”
A £60 million budget is far eclipsed by some of the club’s rivals but the figures are somewhat misleading. Payments can be staggered over several years and the club has already lost some big earners like Santi Cazorla and Per Mertesacker so there will be an increase in the wage budget too. It is certainly possible for the club to grow with this budget.