We don't need your money, 'concerned' Wenger tells new backers

Usmanov, worth £2.75 billion, along with business partner Farhad Moshiri parted with £75million to buy former vice-chairman David Dein's shares in the Emirates club.

Dein has been appointed chairman of Red and White, the vehicle used to buy the shares, and speaking at a press conference on Thursday he declared his intention to increase investment in Arsenal after raising concerns about his beloved club's ability to take on the likes of Chelsea, Manchester United and Liverpool.

But while Wenger remains close friends with Dein, the man who brought the French coach to Arsenal eleven years ago, he clearly does not share his former vice-chairman's doom-laden vision of the future.

In fact, it is Wenger's belief that Arsenal's model of self-sufficiency, rather than relying on a rich benefactors millions, may prove to be the best model on which to gain success.

And such is his confidence that he can take on the best the Premier League and Europe has to offer under the current regime, Wenger revealed his intention to sign a new three-year, £3 million-a-year contract at the Emirates next week.

"You will have some news next week," he said. "At the moment I cannot tell you any more."

When asked about the nature of the news, he said: "There is nowhere better in the world [than here] that is why you come [to talk to me] every week. But I will tell you more next week."

"Every club has its own way to try to be successful. We've chosen this way and I'm happy with that," insisted Wenger.

"Self-sufficiency should be any club's target. To work with your natural resources because you cannot have a policy at the club that, every year, somebody puts £50m or £100m in. It's not fair.

"There are many ways to work in the game. You can say you don't want any youth development at all, and I'll respect that. If there are good players on the market, you go for them.

"We've gone for a different solution and that's what we want to continue to do. Will people continue to pump in £40m, £50m or £100m every year without any natural resources or dividends paid back? I'm not convinced."

The markets however greeted the announcement with uncontained delight and the share price rose a huge £900 to close the day at £8000.

Usmanov's assertion that, despite being an Arsenal fan, he sees the North London side as a good business opportunity would seem to back up Wenger's suspicions over his intentions.

"This purchase of mine is not a strategic or a political one. It's a portfolio investment. Arsenal as a business was undervalued," said Usmanov who made his fortune from mining interests as well as media and telecom holdings.

"My aim is to steadily increase my package because I think the value of it will grow and will soon reach a higher level. The club has everything to achieve it."

But in response Wenger warned: "I'm concerned with the intent of people coming in. If people have a sincere intent to improve the team and help the club, you have to see about that. I don't know."

Arsenal are set to announce impressive figures at the end of this month as the effect of their £390million investment in the Emirates Stadium begins to pay dividends.

And dismissing speculation that the debt incurred in constructing the 60,000 stadium had tied his hands in the transfer market, Wenger threw his support behind the current board's business plan.

"If I want to buy a player today, I have money available. It is my decision to go my own route. I feel we are strong enough to compete and that's what I want to show. At the end of the season it's either good enough or not."

Discussing his relationship with Dein, Wenger was keen to point out their friendship would not bring him into conflict with the Arsenal board, who remain dead set against his return or the prospect of a foreign takeover.

Wenger said: "Many people don't make a difference between my friendship with David and my loyalty to the club. I have a responsibility as an appointed manager to the club to do as well as I can.

"I've retained my friendship with David, which is important. Whether he's inside or outside the club he's my friend. I have a big responsibility inside the club to do my best for them. Whether David's inside or outside that is exactly the same. I want to do well for the club."

Of immediate concern to Wenger is Arsenal's match against Portsmouth on Sunday as he aims to continue his side's impressive start the season.

And despite landing a seemingly favourable draw in the Champions League after being pitted against Sevilla or AEK Athens, Steaua Bucharest and Slavia Prague, Wenger insisted his side will have to be at their best to make it out of the group stages.

He added: "We have two eastern countries in Bucharest, who are traditionally a good technical side, and Slavia Prague, who in fairness caused the shock of the qualifiers by knocking out Ajax. I don't think we have to speak about Sevilla because they are one of the four or five best teams in Europe."