Arsenal Chairman: Wenger Has Money, We Want The Champions League

Arsenal chairman Peter Hill-Woods confirms that Arsene Wenger will have a plenty of money to spend in january's transfer market.

Arsenal are still enduring a turbulent period, having replaced shamed skipper William Gallas with youngster Cesc Fabregas amid claims of dressing room rifts and having fallen away in the Premier League title race already.

Now is the time of the season when most managers are submitting their transfer wish-lists and demanding their allowance of euros. Gunners boss Arsene Wenger, though, isn't one for retail therapy.

Chairman Peter Hill-Wood knows the Frenchman won't go mental in the January sales, if he goes at all. Thus, it's easy to back the frugal gaffer who is harly known as a spendthrift.

Hill-Wood told the club's official website: "Will there be money? Absolutely. There have been suggestions that we keep stopping him from buying - that is not the case.

"He's very sensible with the way he approaches the transfer market, he's not going to buy anybody just because the press or fans say he should.

"He's only going to buy somebody if he thinks they're going to improve what is a young squad but a very talented one.

"He certainly has got money if he wants to spend it."

Laying his revised cards on the table - you can bet he wanted the title in pre-season - Hill-Wood is now targeting European glory, having escaped the Champions League group stages in midweek.

He continued: "I certainly want to finish in the top four in the league, and perhaps (win) the Champions League.

"That would be very nice."

Indeed, Liverpool have shown that you don't need domestic consistency to bag the major continental prize in recent times.