Damien

It's simple at Arsenal. If Arsenal spent what they theoretically could spend, around £50-£70 million, it still doesn't compete with Chelsea or Manchester City. It does compete with United's spending but they've got a better team and hence have less to do. The board are looking at that and thinking that they could spend £70 million to try and go higher but they may well end up third/forth again or they can spend as little as possible and finish third and forth again.

As far as the board are concerned the safe option is to qualification for Champions League football and not spend trying to win the league. It sucks but that's what Arsenal's ambitions are now.