Arsene Wenger has set his sights on two new signings after revealing Arsenal are now ready to ‘spend big’.
The Gunners' policy of developing young players and cashing in on their key men in recent seasons has frustrated fans and has been blamed for the club’s failure to win any silverware since 2005.
But Wenger insists the north Londoners are willing to compete with the likes of Chelsea, Manchester United and Manchester City for big-name signings in a bid to land major honours again.
“My plan is to keep all the players we have and then to add maybe if possible two new players to the squad. We will spend big,” said the Frenchman, in a wide-ranging interview with Al Jazeera TV.
“We had restricted finances because we had to pay the stadium back. Look at any other club that has done that, they have gone down.
“We stayed at the top level, yes without winning the Premier League, but we are always at the top level and now we have come out in a much stronger position financially. So we can spend.
"But our way is a bit like Barcelona as well, to produce the core of the team from inside and add from outside the players who give really a plus."
Sunday’s defeat at home to Manchester City left Arsenal six points behind fourth-placed Tottenham but Wenger is adamant the Gunners, who have a game in hand on their north London rivals, will occupy one of the Champions League qualification spots come the end of the season.
He continued: “It’s very difficult to predict. Certainly Manchester United and Manchester City will be in there.
“After that is very open. Hopefully we will be in there. I’m convinced we will be.”
Wenger's position has been called into question in recent years and, though the Frenchman has no immediate plans to step aside, he admits his time at the Emirates could soon be up.
"I am 63 years old and I will not work until 100 years of age but the most important thing is you give your best," he said. "How long will I stay? I have a contract until 2014 and I always respect my contract.
"It is important the club goes in the right direction. We have a very young team with fantastic qualities and I try to help them to transform their qualities into positive results.
"Let’s not forget last season we finished third in the league and, as long as that’s seen as a disaster, it’s not too bad for the club."