Arsène Wenger insists he is no Scrooge and will be happy to splash the cash in January to improve Arsenal’s chances of enjoying a jolly end to the season.

“There is a huge difference between the perception that people have of me and [the reality]: I’m not scared to spend money,” said Wenger. “If you go out with me one night, you will understand that.”

Despite spending £34m to sign Alexis Sánchez from Barcelona last summer, and a club record £42.5m the previous year to bring Mesut Özil from Real Madrid, Wenger has been accused of scrimping unnecessarily at Arsenal, with a lack of cover in defensive positions following the sale of Thomas Vermaelen in August causing particular frustration. However, Wenger maintains that the image of him as a miser was forced upon him by the years of austerity while the club paid for the construction of the Emirates Stadium but says he is now free of those shackles and ready and willing to plunge into next month’s transfer market, as appropriate.

“What I don’t like is to spend money that I don’t have,” he said. “Now I have money so no problem spending it at all. What I fought against was spending money that would have put the future of the club in danger.”

Arsenal are known to be looking for a centre-back in January, with Laurent Koscielny still at least two weeks away from returning to fitness, and Wenger says that if the club identify a suitable replacement, an offer will be made “without any doubt”.