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Arsenal chairman Sir Chips Keswick has pledged the club will spend big this summer in order to challenge for the Premier League next season.

The Gunners broke their transfer record in the previous two transfer windows with the signings of Alexandre Lacazette (£52m) and Pierre-Emerick Aubemaeyang (£55m).

However, among them include the departures of Alex Oxlade-Chamberlain, Kieran Gibbs, Gabriel Paulista, Wojciech Szczesny, Olivier Giroud, Theo Walcott and Francis Coquelin which helped to bring in more than £110m.

The latest figures show cash reserves have risen to £137.6m, from £100.5m in the corresponding period for 2016, but turnover dropped by £23.4m to £167.7m as a result of the team dropping into the Europa League.

Keswick says the club’s willingness to spend shows their desire to return to the top of the Premier League.

Arsenal strengthened up front with Aubameyang and Mkhitaryan in January

“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,” said the Gunners chairman (via Express).

“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.


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