Josh Kroenke must react to the major development concerning Tottenham after they announced that they are set for a cash injection in the summer. The boost in funds for Spurs could certainly threaten Arsenal's chances of catching their local rivals next season.
The Gunners already lost out on a top-four place to their north London rivals during the 2021/2022 campaign. Falling behind Spurs in the transfer market could give Mikel Arteta’s side an uphill battle to reach a Champions League qualification spot for next season.
It is crucial that Kroenke reacts to this news by giving Edu the necessary funds, however eye-watering they could become, to be able to strengthen this summer ahead of the new campaign. Arsenal will need the necessary investment, not only to return to Europe’s elite competition but just to survive in the racing pack with extra Europa League fixtures.
READ MORE: Mikel Arteta quoted £12.6m bargain transfer for French ace to solve key Arsenal midfield dilemma
Tottenham released a statement on Tuesday afternoon stating that they have agreed a capital increase of up to £150m from the majority shareholder, ENIC Sports Inc (“ENIC”), via the issue of convertible A Shares and accompanying warrants.
Their statement goes on to claim that the cash injection will provide the club with further financial flexibility and the ability to invest on and off the pitch. This means that Tottenham will have more funds available in the transfer market. Antonio Conte will be licking his lips.
Last summer the foundations of Edu’s summer recruitment strategy were largely successful as the Gunners built the basis of a good young core to work with. However, the team now needs quality players around these youngsters to elevate their level. The likes of Sambi Lokonga and Nuno Tavares have done little to raise standards in the squad, despite the success of Ben White, Aaron Ramsdale and Takehiro Tomiyasu.
The Gunners missed out on a Champions League spot this season due to the lack of star power in their squad. Tottenham is being spearheaded by genuine world-level stars in Harry Kane and Son Heung-min.
Technical director Edu is preparing for a busy summer transfer window, but Josh Kroenke has said that the Brazilian and Arteta have set out a 'blueprint' for the type of player they want to sign.
Writing in the matchday programme for Sunday's clash with Everton, he said: "On a recruitment standpoint I will always defer to Edu and Mikel but I know they have a blueprint of the type of player and specific positions that we need to reinforce heading into the summer, so I’ll defer to them and support them in every way that we can in their pursuit of elevating the quality of the squad and also ensuring that we have the right mentality of player coming in."
The Gunners have been heavily linked to players such as Youri Tielemans and Gabriel Jesus. According to transfer expert Fabrizio Romano, they are preparing the opening bid for Jesus. Manchester City want around £50m to sell the forward, even if his current deal won’t be extended. Alongside this, CBS Sports have reported that the Gunners are currently the front runners to sign Youri Tielemans, in what could be the beginning of a summer spending spree. It needs to be one.
Charles Watts at Goal reported on Tuesday morning that Arsenal are also exploring the option of Victor Osimhen, who is reportedly available for £84m. These are transfers that Kroenke must financially support ahead of next season. These deals cannot slip away over the structure of payment, something Arsenal have fallen foul over recently.
With Antonio Conte receiving the necessary funds for the transfer window, Spurs will more than likely be in a much better position than they were in this campaign. For Arsenal to increase their chances of catching, let alone overtaking Spurs next season, it is pivotal that Kroenke reacts aggressively ensuring Edu also has the necessary funds to at least stay in the fight.
