Wenger's transfer cash lift

Arsene Wenger has been told that a war chest of up to £40million will be available for him to spend on rebuilding his team in the summer.

After the disappointment of effectively surrendering their Premiership title this season, the Arsenal manager will need to invest heavily if the club are to make up ground on wealthy rivals Chelsea.

According to Arsenal managing director Keith Edelman, the money will come from the cash he did not spend in last month's transfer window and the next instalment from broadcast giant Granada, which is committed to buying a five per cent stake in the club for £30m in the spring.

Arsenal had around £17m available for players in January but Wenger chose not to use most of it, and around two-thirds of the investment from the television company will also be banked for his use.

Managing director Keith Edelman said: "There is ample money to spend on players in the summer and there were resources there in the transfer window if the manager had wanted to spend it." Wenger's track record suggests he will not spend all the money which could be available, but Arsenal are determined to compete for players the Frenchman targets.

Details of his transfer funds have emerged from Arsenal's latest set of accounts, with information for the six months to the end of November last year published today.