Arsene Wenger insists he is ready to splash the cash in order to land new signings this summer.
Arsenal have already been turned down by Jamie Vardy while they had a bid for Lyon striker Alexandre Lacazette rejected by the French club.
They have also struggled to bring in a new central defender with Shkodran Mustafi’s mooted move from Valencia still not complete.
This has led to suggestions that Wenger’s club is not willing to spend money in the same way some of the other Premier League title challengers are.
But the Frenchman has reassured Arsenal fans that money will be spent when necessary.
When asked specifically about the Mustafi move, Wenger said: “I believe it’s better I don’t speak about any individual player but we are working very hard.
“You are absolutely convinced that I don’t want to spend the money but I reassure you we are ready to spend the money.
“Buying calms the fans, of course. It’s important to spend money – but we have to spend it the right way.
“What I fight against is to think that the only way in football to deal, is to buy. It is right when you need the players and you identify the players and we are not scared to spend money, but to buy in itself is not a quality but to buy the good players is a quality, and I think this club has been built on that.
“We had great success in the last 20 years in improving our structures and the main thing is based on a transfer policy.”