Arsenal will back Arsene Wenger with more transfer funds to land top target Alexandre Lacazette. Even Shkodran Mustafi can be brought in with the latest fund to be given by Gunners hierarchy, according to The Times.

The Gunners have previously hinted that they do not think they need to spend over the odds to secure their priority transfers.

But after having approaches for Lacazette turned down, the board are now reportedly set to hand over the cash to complete the deals before the summer is out. The decision was taken after a closed-door emergency meeting with Wenger.

Arsenal had initially planned to cap their summer spending at £100million, but after Granit Xhaka was landed for £30million, club officials accept that they might have to part with more than £70million.

Lacazette on his own is expected to cost around £50million, while Valencia wants to keep Mustafi in their ranks.

A lack of activity in the transfer market has represented an auspicious start to the summer and with Arsenal already looking ill-prepared for a daunting looking opening run of Premier League fixtures, pressure is already growing on Wenger before a ball has been kicked in anger.

But Arsenal chief executive Ivan Gazidis insists Wenger is the right man for the job and hinted he would stay beyond his current contract which expires this summer by revealing he is focused on long-term success.

Wenger has already missed out on striking targets Higuain and Jamie Vardy and Arsenal fans will almost certainly be concerned with the club’s recruitment strategy in terms of landing a new forward.

So far Arsenal have been rather conservative in the transfer market. Granit Xhaka was a big early buy, but only future prospects Takuma Asano and Rob Holding have arrived since.

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