Arsene Wenger is confident Arsenal can challenge for the English Premier League title, despite falling behind in the spending stakes.
The Gunners, one of the most successful clubs in the Premier League era, have not won a single trophy for over seven years, and it has been eight long years since they last lifted the English Premier League Trophy.
Clubs like Chelsea and Manchester City, backed by billionaire owners, have outspent the Gunners, and enjoyed domestic and European success. Several fans have criticized their club's lack of ability to compete with the big boys. However, Wenger believes, his team is still capable of winning top honors.
"Firstly, I must say that not being able to match the spending of the richest clubs does not mean that you can't compete with them on the pitch," he told Time Out Hong Kong.
"When I first came to England, this question did not exist. Every club was run within its resources.
"The Chelseas and the Man Citys are new problems. But with this new financial environment, what has not changed at all is our policy that we will be as ambitious as ever and spend the money that we have available, if possible in an intelligent and wise way.
"We have always spent money because we are ambitious for top-class players and if you look at the history of our last 15 years, we have always had top-class players.
"It does not mean you can't win the title if you can't compete financially."
Robin Van Persie recently expressed his intention to not sign a new contract with the club, after failing to agree with the way the club was moving forward. The Dutchman's imminent exit could mean another high-profile player leaving the club in the last few years, joining the likes of Cesc Fabregas and Samir Nasri.
"I have been in football for a long, long time and I don't think just spending money is a target that is defendable.
"To spend the money on a top player is defendable. But just to spend the money is like you are worried.
"Our fans can be proud of the way we run this club, of the quality of the players we have and of the financial situation that is existing at the club.
"Rather than convicting this club, they have more reason to be proud of the whole situation here.
"We have built a team and a stadium in such a short space of time, and have a strong financial situation -- and we have always survived at the top level."
The Financial Fairplay is going to be implemented soon, and Wenger believes that will work to Arsenal's as well as the league's advantage. "We need first to see how effectively financial fair play can be enforced before we can fully understand the impact but I believe it will make for a more exciting Premier League," Wenger said.
"When you look at the history of England, there are Nottingham Forest, Aston Villa and Derby County who have all won championships.
"If that is possible again it will be even more interesting.
"If the rules are well introduced, it will be a massive advantage to Arsenal, of course, and we will be well positioned for that.
"I don't want to go into excuses but you want a business to be run properly and I believe that to lose £150million a year, you don't deserve a lot of credit to win a competition.
"I think that it is right that you balance your books; to accept the one basic principle for every company, and that's that you can spend the money which you make.
"That principle just seems to be a common sense and logical one."
Meanwhile, reported Arsenal target, Junior Hoilett, has agreed to join Queens Park Rangers, according to the English media.
