Arsenal boss Arsene Wenger has insisted that his side are targeting the Premier League title this season.

The Gunners are without a trophy in eight years, but their rise to the top of the league has caused optimism around the club.

Wenger was also keen to point out that Arsenal are not afraid to spend money, having smashed their transfer record to sign Mesut Ozil last month.

"We have a huge ambition to win this league again and that is the target of the season," Wenger told Arsenal's AGM.

"Our policy is based on three different levels and we want to continue with that success.

"I am quite happy we have shown to you that we are not scared to spend money when we think players have the quality and we have the funds available to do it."

Arsenal's next game is against Norwich City this weekend.