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With just over a week left of the transfer window - Arsenal fans are desperate for the club to splash some cash.

So far this summer the Gunners have spent money on just one player, albeit a club record fee to land Alexandre Lacazette from Lyon in a deal worth up to £52 million.

But supporters do not feel that is enough and want to see Arsene Wenger push through moves for the likes of Thomas Lemar, Julian Draxler and Jean Seri before next Thursday's transfer deadline.

So what exactly is the financial situation at Arsenal right now and what money do they potentially have to play with?

Back in May the Arsenal Supporters’ Trust (AST) released their latest findings following research into Arsenal’s financial position.

And they believed the club was in ‘rude health financially’ and had around £90 million to spend on transfers this summer, and that was before any money came in from player sales.

The wage bill was up to around the £200m a year mark and the AST believe that Arsenal had the capability to sign Alexis Sanchez and Mesut Ozil to big money contracts.

But failure to secure Champions League football came at a cost, with the club set to miss out on around £25m by dropping into the Europa League.

These were the headlines from the AST's detailed report.

Arsenal’s financial position - the headlines

For the financial season, ending in May 2017 - the AST estimate the club will earn revenue of close to £420m - an increase on last season of £70m, nearly all driven by the new TV deal. There is a locked in profit of around £40m, possibly higher.

The club is in 'rude health financially', with record revenues and probably record profits.

But it is now operating in the same financial league as Liverpool, Everton and Spurs - not Manchester United, Chelsea or Manchester City.

The advantage the move to the Emirates brought in terms of gate receipts is slowly being eroded due to other new stadiums coming on line.

Difference of being in the Europa League compared to the Champions League

(Image: Clive Mason/Getty Images)

In the 2015/16 season, Arsenal received just under £50m for reaching the last 16 of the Champions League from UEFA.

Liverpool reached the Europa League final that season and got around £27m.

Next season the estimated difference between reaching the round of 16 in Champions League and the semi-final in the Europa would be around £25m.

Transfers

Arsenal will have about £90m to spend this summer before any player sales - similar to last year (that was the figure before the signing of Lacazette).

Wages

Arsenal’s wage bill is now close to £200m. United’s is at about £230/£240m, with Chelsea and City around £210m. Spurs' is believed to be £120m.

Arsenal could afford to pay Sanchez and Ozil around £300,000 a week (£15m a year) - but would have to let some players leave to free up wages for new signings.

Debt

Arsenal’s debt is around £200m - It is considered very manageable.

Commercial revenues

The current shirt and kit sponsorship deals are where Arsenal’s commercial revenues are beginning to struggle in term of their rivals.

Chelsea’s new shirt deal, along with their training kit deal and Yokohama deal will add around £60m a year to their commercial revenue - that will take them up to around the £180m a year mark, £60m at least more than Arsenal.

That takes Chelsea up to the same sort of level as Manchester City - but still £100m behind Manchester United, who get £280m from commercial income a year.

So United have around £150m more than Arsenal to spend on things like wages.

Share prices

It's just over 10 years since Stan Kroenke first bought a share in Arsenal. In total he has paid about £425m for his 67 per cent shareholding.

If Kroenke was to sell up now - at the current share price (£17,500/£18,000) - he would make a profit of around £200m on his investment.

Watch the full video from the AST on Arsenal's finances here

What do you think Arsenal need to do in the final week of the transfer window? Let us know by leaving a comment below