
The Gunners boss was widely expected to splash the cash in the transfer window to bring in new players to make up for the loss of both Cesc Fabregas and Tomas Rosicky to injury, with Russian Andrei Arshavin one name tipped to arrive at the Emirates.
However, the club's chairman, Peter Hill-Wood, has hinted that the London side won’t be shelling out quite the sums that have been touted in the press of late.
"I don't think there is a lot of money anywhere," Hill-Wood said in the Daily Star. "One has got to look ahead - in the future there is probably not going to be much more money coming in.
"We have got money, but I am not sure we are going to spend it. We've got to continue to run the business in a sensible way.
"It may sound boring, but we are not going to rush out and spend fortunes on people who won't help us achieve anything better than where we are at the moment.
"Arsene has a lot of young, talented players at the club and I think he will probably give a chance to one or two of them."