The Arsenal hierarchy are reportedly prepared to give manager Arsene Wenger up to £55m to spend in the summer transfer window.

The Gunners board, including majority shareholder Stan Kroenke, are believed to be in full support of the Frenchman despite a tough season at the Emirates.

Wenger is expected to be given substantial funds at the end of the season in an attempt to revive the North London club, according to the Daily Mail.

Arsenal were knocked out of the FA Cup to Premier League opponents Sunderland on Saturday and are likely to face a Champions League exit following a 4-0 defeat to AC Milan in the first leg of the final 16 this week.

The damaging defeats caused widespread criticism of Wenger as well as the Frenchman's current squad.

Despite Arsenal's lack of activity in last summer's transfer market, the Gunners have been linked to the likes of Eden Hazard, Mario Goetze and Lukas Podolski.