Arsene Wenger maintains he is not about to "ruin" all of his hard work in building the Arsenal squad just for the sake of a big-money signing.
Following the publication of impressive financial results by the Gunners' parent company earlier this week, the board have pledged to make around £70million available to Wenger for new players should he want it.
Wenger, though, is in no rush to spend - and with good cause as his side currently top the Barclays Premier League table ahead of tomorrow's trip to West Ham.
Chairman Peter Hill-Wood recalled a conversation with the French coach during the summer, when he asked what Wenger would do if he were handed £100m, and was told it would be given straight back.
It is a philosophy Wenger believes serves the needs of the club well.
"I said that because I think I would ruin the work I have done in the last five years," the Arsenal manager reflected.
"After [so long] developing players and then, just in the last minute, you put £30million into a player who is not necessarily better than the players you have just to keep everybody saying 'oh, have you seen Arsenal? They have bought a super player', then in the end you see he is not better than the players you have.
"I just was really convinced that it was not needed."
Wenger stressed: "I feel you can be successful with different approaches, and I respect the Chelsea one, that is okay.
"The guy who comes in and feeds in money and you take just the best player who is already the finished article and build a big team like that.
"But as well you can build a big team in a different way.
"That means you bring players together, you educate them and give them the culture of the game you want them to play and we went for the second approach.
"I do not say it was better, but it was suited first of all to our financial potential at the time we decided the policy and to my philosophy."
The Arsenal boss added: "You have to trust your judgement knowing you will make mistakes.
"I always say you have to be relaxed about that and smiling, knowing that you have a bomb in the right hand and a hand grenade in your left and that it can explode in your face because you were wrong.
"At the end of the day no matter who runs a football club somebody has to make a decision and in my experience it is always better that it is just one person."
Wenger has certainly faced more than one tough call during his decade in charge at Arsenal.
This past summer was no exception, with the Gunners boss allowing two senior men to leave as talisman Thierry Henry joined Barcelona and long-serving midfielder Freddie Ljungberg headed to West Ham.
The veteran Swede could well come up against his old team-mates at Upton Park tomorrow.
When he left the club, Ljungberg suggested Arsenal were in decline, but has since back-tracked.
Wenger maintains he has nothing but respect for a player who had served him so well.
"You don't bear grudges with Freddie because I know he's an honest guy, I will always love Freddie, no matter what he says because I have gone through difficult and many things with him," said Wenger.
"I know he's not a guy whose mischievous. Today he changed his mind, fair play to him."
Wenger added: "He got a three-year contract at the age of 30 and he had an opportunity to play.
"Freddie was always a very important player here, he was a fantastic player for Arsenal and he decided in the end to go for a new challenge. I respect that."
The Gunners boss, however, maintained letting Ljungberg go was necessary to the development of the squad.
Wenger said: "I have to make decisions and I cannot get young players in the team while keeping the old ones in as well.
"When you see the competition become hard, you have to make room for the younger players.
"At the beginning of the season, I said there was a hunger and togetherness in the team and there is great quality there.
"How far they can go I don't know, but I was confident we could start well because our schedule was potentially winnable.
"We have done well and that has strengthened our belief, but tomorrow is a big test.
"We can show that we are stronger than last year."
Arsenal will, meanwhile, again be without German goalkeeper Jens Lehmann, who is still nursing an elbow problem picked up on international duty.
Manuel Almunia has performed admirably since coming into the side, and intends to give Wenger a selection dilemma when Lehmann is again match fit.
The Arsenal boss said: "Headache? I have enough headaches already without that.
"I don't know, let us work from game to game. There is much competition everywhere.
"Jens is an outstanding keeper.
"To keep Jens content and not playing, you must be very strong."
Wenger, though, is in no rush to spend - and with good cause as his side currently top the Barclays Premier League table ahead of tomorrow's trip to West Ham.
Chairman Peter Hill-Wood recalled a conversation with the French coach during the summer, when he asked what Wenger would do if he were handed £100m, and was told it would be given straight back.
It is a philosophy Wenger believes serves the needs of the club well.
"I said that because I think I would ruin the work I have done in the last five years," the Arsenal manager reflected.
"After [so long] developing players and then, just in the last minute, you put £30million into a player who is not necessarily better than the players you have just to keep everybody saying 'oh, have you seen Arsenal? They have bought a super player', then in the end you see he is not better than the players you have.
"I just was really convinced that it was not needed."
Wenger stressed: "I feel you can be successful with different approaches, and I respect the Chelsea one, that is okay.
"The guy who comes in and feeds in money and you take just the best player who is already the finished article and build a big team like that.
"But as well you can build a big team in a different way.
"That means you bring players together, you educate them and give them the culture of the game you want them to play and we went for the second approach.
"I do not say it was better, but it was suited first of all to our financial potential at the time we decided the policy and to my philosophy."
The Arsenal boss added: "You have to trust your judgement knowing you will make mistakes.
"I always say you have to be relaxed about that and smiling, knowing that you have a bomb in the right hand and a hand grenade in your left and that it can explode in your face because you were wrong.
"At the end of the day no matter who runs a football club somebody has to make a decision and in my experience it is always better that it is just one person."
Wenger has certainly faced more than one tough call during his decade in charge at Arsenal.
This past summer was no exception, with the Gunners boss allowing two senior men to leave as talisman Thierry Henry joined Barcelona and long-serving midfielder Freddie Ljungberg headed to West Ham.
The veteran Swede could well come up against his old team-mates at Upton Park tomorrow.
When he left the club, Ljungberg suggested Arsenal were in decline, but has since back-tracked.
Wenger maintains he has nothing but respect for a player who had served him so well.
"You don't bear grudges with Freddie because I know he's an honest guy, I will always love Freddie, no matter what he says because I have gone through difficult and many things with him," said Wenger.
"I know he's not a guy whose mischievous. Today he changed his mind, fair play to him."
Wenger added: "He got a three-year contract at the age of 30 and he had an opportunity to play.
"Freddie was always a very important player here, he was a fantastic player for Arsenal and he decided in the end to go for a new challenge. I respect that."
The Gunners boss, however, maintained letting Ljungberg go was necessary to the development of the squad.
Wenger said: "I have to make decisions and I cannot get young players in the team while keeping the old ones in as well.
"When you see the competition become hard, you have to make room for the younger players.
"At the beginning of the season, I said there was a hunger and togetherness in the team and there is great quality there.
"How far they can go I don't know, but I was confident we could start well because our schedule was potentially winnable.
"We have done well and that has strengthened our belief, but tomorrow is a big test.
"We can show that we are stronger than last year."
Arsenal will, meanwhile, again be without German goalkeeper Jens Lehmann, who is still nursing an elbow problem picked up on international duty.
Manuel Almunia has performed admirably since coming into the side, and intends to give Wenger a selection dilemma when Lehmann is again match fit.
The Arsenal boss said: "Headache? I have enough headaches already without that.
"I don't know, let us work from game to game. There is much competition everywhere.
"Jens is an outstanding keeper.
"To keep Jens content and not playing, you must be very strong."
Copyright (c) Press Association
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