Arsenal to break transfer record

Arsene Wenger is prepared to smash Arsenal's transfer record in order to end the club’s five-year spell without a trophy.

Arsenal's previous record buy is the £15million they paid Zenit St Petersburg for Andrey Arshavin in January 2009, but sources close to the club say Wenger has significant cash to spend this summer.

France midfielder Yoann Gourcuff is rumoured to be a £20m target, while The Gunners boss remains a keen admirer of Everton’s Mikel Arteta. The Spaniard could cost in excess of £16m.

Meanwhile, the drawn-out acquisition of Fulham goalkeeper Mark Schwarzer finally seems to have reached a conclusion. A £3m deal should be agreed within the week.