By Chris Harris
Ivan Gazidis says Arsenal "kept their powder dry" in the transfer window to secure the signings they wanted at the right price.
The Club did plenty of business throughout the summer but went into overdrive in the final days of August, bringing in Ju Young Park, Andre Santos, Per Mertesacker, Yossi Benayoun and Mikel Arteta just before the deadline.
Critics accused Arsenal of 'panic-buying' in the wake of a disappointing start to their Premier League campaign but Gazidis rejected that theory when he spoke to reporters at the Sport Industry Breakfast Club on Tuesday.
"I understand the perception that people think we were panic-buying but that is not what happened in the Club," he said. "Arsène is very strong at keeping discipline and finding where the value is.
"I think we have assembled a squad with a blend of youth and experience. Certainly it contains the targets that Arsène wanted. I have seen a lot of stories about targets we have missed out on - most of them are a little bit misguided from what was actually happening inside the Club.
"We have kept some powder dry and I think we have done that deliberately. We have looked at the market, looked at the players who were available and who we really wanted and whether we were able to achieve that over the summer.
"We as a Club are operating in a self-sustaining way and are concerned about value. It may frustrate everybody but we have to be."
It remains to be seen whether Arsenal will be active when the transfer window reopens in January but Gazidis insists that funds are available should Wenger want to strengthen his squad further.
"Certainly in January and next summer there are significant funds available to bolster the team," he said.
"The important thing from our perspective is - and this is something that Arsène has been extremely disciplined in over time - that we are not just going to spend money because we are under short-term pressure.
"We are going to make sure that the players we bring in are the right players."Copyright 2013 The Arsenal Football Club plc. Permission to use quotations from this article is granted subject to appropriate credit being given to www.arsenal.com as the source 20 Sep 2011