Wenger to be handed summer warchest

Arsenal boss Arsene Wenger is set to be handed £40million to spend in the transfer market this summer by new owner San Kroenke.

Kroenke is set to take full-control of the club after increasing his stake to nearly 63 per cent over the weekend after buying another £233.2million of shares.

And reports today suggest the 63-year-old, who already owns NBA's Denver Nuggets, the NHL's Colorado Avalanche, NFL team the St Louis Rams, and Major League Soccer outfit the Colorado Rapids, is set to use some of his immense wealth to support Gunners boss Wenger in the transfer market.

The Frenchman has been famously frugal in the transfer market in recent years, preferring to buy cheaper, younger players with the aim of developing them into world-class stars.

But Wenger's patient approach has also coincided with a trophy drought stretching back to 2005, much to the frustration of the supporters, who have also seen the likes of Chelsea and Manchester City comfortably outspend them in the transfer market in recent seasons.