Arsenal news: 'We have a Champions League wage bill on a Europa League budget'- Gunners director explains limited transfer budget

What's the story?

Arsenal director and son of the club's owner, Josh Kroenke, has explained why Unai Emery has been given such a prohibitive transfer budget this summer, stating that the club is struggling to manage the massive player wage bill on a Europa League budget.

In case you didn't know...

Emery has been given the monumental task of strengthening the squad with a meager budget of £45 million this summer. Arsenal have been linked with a series of players, including Celtic left-back Kieran Tierney and Crystal Palace winger Wilfried Zaha, but have so far signed only Brazilian teenager Gabriel Martinelli.

The Gunners' failure to secure Champions League football has served as a key factor in the diminished amount. The club finished at fifth place in the Premier League despite their rivals having encountered some bumps on the road to a top-four finish. They later squandered their only chance at top-tier European football when they lost the Europa League final to London rivals, Chelsea.

On Monday, supporters of the club, including a number influential bloggers, released a letter where in they voiced out their frustrations with the way the club is currently being managed under unpopular owner, Stan Kroenke.

The letter highlighted Arsenal's decline in the last decade and called for "meaningful action" by Kroenke to get the club back to its former glory.

The heart of the matter

Kroenke has addressed Arsenal's current transfer crunch as part of a response to the fan letter. He said, (via Mirror Football), "If we’re going into the finer points I’d have to defer to these guys [managing director Vinai Venkatesham and Sanllehi]. I’ve always told them we need to be as aggressive as possible."

"It’s no secret that we have a Champions League wage bill on a Europa League budget right now. That’s a fact. And one that we’re figuring out how to face internally at the moment."

"That doesn’t mean that my father or I have ever said anything about any restrictions on spending. We know where we need to be and we know the areas we need to address on the pitch. It’s not who you buy, it’s how you buy. There are multiple statements to say how to skin that cat."

"While we’re not going to be in the market for some of the top players in the world at the moment whilst they are the top players, we’re actively scouting the globe to find the next big thing to become great at Arsenal Football Club. And not only will we bring them to the club, we’ll be able to retain them in the fold going forward."

What's next?

The managing director and the head of football at Arsenal are scheduled to speak to supporters about the problems they have raised on July 25.