Arsenal chairman Peter Hill-Wood says manager Arsene Wenger has money to spend in the January transfer window.
Having lost five games already this season the Gunners are 10 points adrift of leaders Chelsea, and look unlikely to mount a challenge for the Premier League title they last won in 2004.
Wenger prefers to develop young players than spend but Arsenal but supporters have called on him to strengthen his squad.
“He certainly has money if he wants to spend it,” Hill-Wood told Arsenal TV.
“There have been suggestions 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.”
Last summer saw Mathieu Flamini, Alexander Hleb, Gilberto Silva and Philippe Senderos (loan) leave the club, while Samir Nasri, Aaron Ramsey, Amaury Bischoff and Mikael Silvestre were brought in.
Earlier this month Wenger said of his plans for the transfer window: “It’s far from decided.
“We will make a check at the end of December and we will see. We have had many players out and showed we have a great squad that can win the big games.”
Their league position indicates that the Champions League, in which Arsenal have qualified for the knockout stage, may be a more realistic target.
“I certainly want to finish in the top four in the league, and perhaps (win) the Champions League,” said Hill-Wood.
“We’ve played pretty well in Europe on the whole so far, and that would be very nice.
“We got to the final in Paris (in 2006). We’ve been up there, and it would be wonderful to win that.”