Mikel Arteta believes that Arsenal can be genuine contenders for the Premiership title again and insists the Gunners will close the gap with other top clubs, provided they spend money on top players and strengthen the side this summer.

Manager Arsene Wenger has been given a reported transfer war-chest of £70 million and the Frenchman is hopeful of landing few quality players, before the transfer window closes.

Arteta says there is a genuine sense of excitement in the dressing room about the prospective additions and expects the club to be more aggressive in the transfer window in the coming weeks.

“The club have said they are going to be very ambitious in the market and have got the financial resources to get big players,” Arteta said as quoted in The Guardian.

“Now, financially, they are very strong so maybe we will be more aggressive in the transfer market. There has never been a tradition at Arsenal to pay crazy, crazy money,”

“I am excited. They made it public that they are going to go big and the sort of players they have been linked with makes me happy.”

The past few summers have seen Arsenal resorting to selling their top players in the summer with the likes of Cesc Fabregas, Samir Nasri, Robin van Persie and Alex Song, all departing within in a matter of years. And for the first time in last few years, Arsenal are now in a position to buy players without having to see the back of any of their quality players. Arteta believes that such notion will have a tremendous impact on the body language of the players on pitch as well as the dressing room.

The Gunners have been heavily linked with Liverpool’s unsettled striker Luis Suarez and are ready to test Liverpool’s resolve with an increased £35 million offer, though in all probability it will be rejected. The Reds are not looking to sell their prized asset to a Premier League rival club, but if Arsenal cough-up a fee over £40 million, it will perhaps force the Anfield outfit into negotiations.

It is also understood that Arsenal are finally close to wrapping up a £23 million deal for Real Madrid striker Gonzalo Higuain, who has agreed personal terms in principle on a move to the North London club.