By Chris Harris

Arsène Wenger is not expecting a flurry of transfers in January - because clubs won't risk over-spending in the current financial climate.

A recession has taken hold in the United Kingdom but, as yet, the impact of the economic downturn on football is unknown. The Arsenal manager believes that this uncertainty will prevent clubs from splashing the cash during the transfer window.

Wenger is confident that Arsenal's sustainable business model will hold them in good stead but warns that any club over-reaching themselves could find themselves in financial strife, especially with the current television rights deal due to expire next year.

"Over-spending, can, of course, expose any club," said the Frenchman at his pre-match press conference.

"I believe what is very difficult at the moment to plan, to 'budgetise', is how big this crisis will affect football. I don't know personally, will it affect television? Television money for some clubs is 50 per cent of their income.

"That deal is up [in 2010], but if the financial crisis lasts, maybe even now the television [companies] will have problems to respect their contracts. That can happen."

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9 Jan 2009