Arsene Wenger can spend £50m once Emmanuel Adebayor is sold

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Reports had initially suggested the Arsenal boss would only have £13-15m to spend as the club continue to work under the constraints of paying for the move to Emirates Stadium in 2006.

But a source within the club told Standard Sport that figure was "mischief-making" and that Wenger has been assured by chief executive Ivan Gazidis that he will have close to £25m plus whatever he generates from sales.

The Gunners' run to the Champions League semi-finals is thought to have earned upwards of £15m in addition to the estimated £10m the club had already set aside for summer dealings.

Wenger has lost patience with Adebayor, who has almost certainly started his last game for Arsenal and can hope at best for a place among the substitutes for Sunday's Premier League finale against Stoke.

The Frenchman is thought to consider the Togolese striker a disruptive influence in the dressing room and is still disappointed with the way he courted a move to AC Milan last summer.

The Rossonerri head a group of clubs vying for his signature that reportedly includes Chelsea and Inter Milan and Wenger has previously suggested he would not be averse to selling the striker to a domestic rival.

Although Arsenal will not receive the £30m previously tabled for Adebayor, he is still expected to fetch £20-£25m despite only scoring five goals in his last 17 games.

Stephane Courbis, the player's agent, revealed that no contact has yet been made but admits Adebayor's future may now lie away from north London. He said: "I can say that there is no news on Milan or Inter as I have not been contacted. I do not know if the future of Emmanuel is with Arsenal.

"The only certainty is that at the end of the season I will meet with Wenger to asses the situation."

Although Wenger's war chest is higher than previously suggested, he is unlikely to spend it all and the club are keen to ensure they get value for money with any new signings.

Liverpool midfielder Xabi Alonso, Blackburn striker Roque Santa Cruz, Gokhan Inler of Udinese and Fulham defender Brede Hangeland were thought to be among the targets discussed by Wenger and Gazidis at the pair's weekly lunch on Tuesday.