Arsene Wenger confident his side will win a trophy this year

Speaking at the club's Annual General Meeting at Emirates Stadium this morning, the Gunners boss told concerned shareholders that his team are ready to fulfil their potential and win their first silverware since the 2005 FA Cup.

"I know we haven't won a trophy for four years but we were very close and I believe that this year the team will do it," said the Frenchman, who received a standing ovation to mark his 60th birthday.

"When I say that, it is not to please you, it is because I am really convinced of it. I believe that the fans who turn up at the gate know we will go for it.

"We are in October and we know it will be very tight - it will come down to how resilient, consistent, intelligent and united we are until the end.

"There will be periods when it will be difficult but we have to show our strengths that have always made this club special. I believe we have developed the team in the last four of five years with a tremendous amount of training to develop them how we want.

"I believe a team are easier to develop if they grow up inside the club, from 16 or even younger because they learn to love the club and what it represents.

"It's not just about pumping money into the team. There is a magic in our sport and our club. This season we are ready to go for it in the Premier League, the Champions League and, of course, in the cups as well."

Although Wenger spent relatively little this summer, the team have made a good start to the campaign. They go to West Ham on Sunday, four points behind Premier League leaders Manchester United, with a game in hand, and on an eight-game unbeaten run.

Meanwhile, chairman Peter Hill Wood refused to answer increased speculation surrounding Stan Kroenke's potential takeover the club.

The American businessman increased his shareholding to 28.86 per cent - just 646 shares short of the takeover trigger point - and although he attended the meeting, he did not speak and only smiled when the board were asked about his intentions.

Hill Wood said: "I believe he is happy to be a long-term shareholder in our club. Really it's not for me to say what his intentions are.

"It is not something I can discuss publically or even privately. We have a takeover panel breathing down our necks and I have to be very careful with what I say."