Arsenal manager Arsene Wenger has denied claims from Arsenal director Lord Harris that he has £200m to spend in the transfer market this summer.


Harris on Friday confirmed that Arsene Wenger has a top quality striker lined up, claiming that the club have the financial power to the tune of £200m to buy any player in the world.


But Wenger has responded to the statement by saying:


“He has got a bit overboard there because that’s not true. We are in the situation that I explained many times where we are working hard so that if an opportunity comes up we will do something.


“I do not want to go into details too much because it is not too much about a number. Our opponents, if they want, have that money to spend, so it is not something that is absolutely exceptional.


“Money in the bank does not mean profit. We lost money in the last six months. You can be bankrupt and have £200m in the bank.” Wenger is quoted as saying on the Daily Star.


Meanwhile, the Emirates Cup returns to north London this week and Wenger and his squad have been busy preparing for the competition.


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