Arsenal to give Mikel Arteta limited funds in January transfer window

Mikel Arteta is set to become Arsenal's new manager
Mikel Arteta is set to become Arsenal’s new manager (AMA/Getty Images)

Arsenal’s hierarchy have warned Mikel Arteta that he will be given limited funds to work with in the January transfer window, according to reports.

Metro.co.uk understands that Arsenal expect to reach an agreement with Arteta this week after holding talks with the 37-year-old following Manchester City’s 3-0 win over the Gunners at the Emirates Stadium on Sunday.

And the Spaniard immediately faces a difficult task as Arsenal have registered just one win in their last 12 games and are seven points behind fourth-placed Chelsea in the Premier League.

During the meeting with Arsenal’s managing director Vinai Venkatesham and contract negotiator Huss Fahmy at his home which concluded in the early hours of Monday morning, Arteta reportedly discussed potential transfer targets along with the direction he wants the team to move in.

But according to The Sun, Arteta has already been told by Arsenal chiefs that he will have ‘limited funds’ to work with next month.

Mikel Arteta watched Man City beat Arsenal at the Emirates Stadium on Sunday
Arteta watched Man City beat Arsenal at the Emirates Stadium on Sunday (BPI/REX)

However, the report claims that Arteta will be given a bigger budget to work with next summer as he will be looking to address several weaknesses in the Gunners’ squad.

Arsenal already face the prospect of losing their captain Pierre-Emerick Aubameyang at the end of the season when his contract will have just one year left to run.

And Arteta is also likely to address Arsenal’s leaky defence which has already conceded 27 goals in 17 Premier League matches this season.

Arteta has reportedly been offered a three-and-a-half-year contract by Arsenal, while City are demanding a £1 million compensation fee for the Spaniard.

Pep Guardiola has also given his approval to Arteta after appointing him as his assistant at City in 2016.

Meanwhile, Arsenal are also reportedly close to completing a deal for City’s talent-spotter Sam Fagbemi.

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