Arsenal 'have £40m summer transfer budget'

Arsenal have reportedly decided to restrict Unai Emery's transfer budget to £40m.

There has been widespread speculation regarding Arsenal's plans for the summer window, with it being suggested that the size of the funds made available to Emery depends on whether the Gunners qualify for next season's Champions League.

According to The Mirror, the club's board have already made the call regarding their spending ahead of the new campaign, with an onus being placed on reducing the wage bill.

The report claims that Emery may be provided with more money should they earn their place in European football's premier competition, but it remains to be seen how much Arsenal would commit to further additions.

The North London outfit are expected to sign at least three new players, with a defender, central midfielder and winger known to be on Emery's wishlist.