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Cape Town - Arsenal's second largest shareholder Alisher Usmanov has confirmed that the Gunners have money to spend on top players.
According to SkySports, Usmanov reveals that Arsene Wenger will be given money to spend on new recruits.
"Does (Wenger) have money or not? There is officially money in the club," Usmanov said.
"My opinion - and I tell it openly - we need to strengthen every position to play on the level of such teams in [the] UK as Chelsea and Manchester City, in Europe like Real Madrid, Barcelona, Paris St Germain and other clubs."
The gunners have already spent big in the past two seasons on big signings having secured the services of Mesut Ozil for £42.4m and £35m to sign Alexis Sanchez.
Following Arsenal’s poor form Usmanov has come out saying Wenger should admit to his mistakes in order to move forward.
"Everybody makes mistakes. He can make mistakes and I know as you age it is more difficult, more challenging to accept one's mistakes.
“The potential of the team is there but there is no critical evaluation of mistakes and they need to acknowledge them, because no genius can retain the same level of genius if they do not acknowledge mistakes. It's only when you admit your mistakes that you can get rid of them. I wish this for my club,” said Usmanov.
