Mikel Arteta has insisted that Arsenal can compete for the Premier League crown next season due to their financial strength.

The Gunners finished third this season behind Manchester City and champions Chelsea, but the Spaniard believes that his side can challenge for more silverware in the future.

"The ambitions I think are going to be different for next season. The base, the squad, the quality we have is better than we had last year," the 33-year-old told Sky Sports News.

"I think the club is in a strong position as well to push, because financially it's in a very good position. I think it's the right moment. We have all the elements to move forward, to be challenging.

"I think we need to be demanding, because I think we have the ability and what it takes to go ahead and set bigger targets. We know the challenge is there and I think we have all the elements to go and progress again."

The midfielder is in contention to make an appearance in this weekend's FA Cup final, after being sidelined with an injury since November.