Arsenal chairman Sir Chips Keswick says they can compete for the Premier League title working to their current financial model.
Keswick has vowed the club will continue to pursue a policy of self-financing after announcing a pre-tax profit of £25.1million for the six months ending 30 November 2017.
Under owner Stan Kroenke, Keswick reiterated their aim of only spending what they earn to achieve longer-term sustainability.
“This has not been the easiest of campaigns but we are all working hard to ensure we have a strong finish," he said.
“Breaking our transfer record twice in one season and the player contracts we have signed shows our commitment to getting the club back competing for the Premier League.
“However, our strategy remains self-financing and we must accept all the challenges that brings at a time when the inflation of transfer fees, player wages and the fees demanded by agents has become super-heated.
“We need to spend effectively and be the best we can across the whole of our football operations if we are to compete at the level our ambitions for the club demand."
Source: tribalfootball.com