The second-biggest shareholder Arsenal Football Club has revealed that there is not enough cash to finance manager Arsene Wenger’s Premier League dream.
It has been reported by club officials that Russian Alisher Usmanov has failed in an attempts to talk the club into a rights issue to generate funds for a transfer war chest for boss Wenger.
In a statement his holding company said that the board of Arsenal FC are confident the club have adequate resources to strengthen the squad. However Usmanov does not share their view.
Arsenal’s signing this summer so far has been Ajax defender Thomas Vermaelen for £10million it it now look as though that will be the only signing for Arsenal before the start of the new season.