By Chris Harris

Arsène Wenger fears the worst for Europe's economy and he insists that football will not be untouchable if another financial crisis comes.

The world's biggest sport bucked the trend during the recent economic downturn with record sums being spent during the last transfer window. It was a similar story in January when just two fees - for Fernando Torres and Andy Carroll - fetched £85million.

The spending power of clubs like Chelsea, Manchester City and, further afield, Real Madrid, has kept money circulating in football. But there have been warning signs - the new La Liga season was delayed by a strike after a number of Spanish clubs failed to pay their players.

Wenger can see even bigger problems in the not-too-distant future.

"I believe that Europe overall as a unit is going towards a massive crisis which nobody really expects now," he said.

"I am convinced that Europe will go into a huge financial crisis within the next three weeks or three months and maybe that will put everything into perspective again.

"Football is not untouchable. We live with people going to the stadiums as well and from advertising from people who buy products. All our income could be a little bit under threat in the next few months.

"We have seen the first signs of some resistance in Spain where everybody complains.

"Football is not only about money. We believe in ourselves that we can compete with them but that's as simple as it is."

Copyright 2014 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 13 Sep 2011