Arsenal have decided against a proposed rights issue which would have generated almost £150million for the club from their shareholders.

Alisher Usmanov, Arsenal's second biggest stakeholder, had suggested the plan as a way of raising money to either pay off debt or invest in players.

Danny Fiszman, 16 per cent shareholder, and Stan Kroenke, who owns a 28 per cent stake, met last week to discuss the plan with the club's financial advisor, Rothschild.

However, they have decided against the rights issue, with chief executive Ivan Gazidis saying the club could cope with their debt, which stands at around £400m and is mainly down to the building of Emirates Stadium.

Gazidis said: “The board, with its financial advisor Rothschild, considered thoroughly the proposal to use permanent equity capital to either pay down debt or to add to the club's spending in the transfer market.

“With regard to debt, the conclusion reached is that the club has a very efficient capital structure with long-term debt on attractive interest rates.

“We can comfortably afford to meet the annual costs of this debt while at the same time generating surplus funds to invest in the club.”

Gazidis said because Arsene Wenger would not pay over-inflated prices for players, there was no need to raise cash for transfers through a rights issue.

This summer, Arsenal have only bought defender Thomas Vermaelen from Ajax for £10m, although Robin van Persie did today agree a new deal with the Gunners.

Gazidis said: “With regard to players, the board decided not to issue permanent capital in the hopes of signing one or two players in an inflated transfer market.

“Instead, the focus continues to be on securing the services of talented young players we have on long-term contracts and making very selective acquisitions, only where a new signing will add real value to our already strong squad.

“We have developed some of the best young players in the world, as they showed by advancing to the last four in the Champions League.

“Simply spending money in the transfer market does not make a team or guarantee success.”

That shrewd approach has worked with Van Persie, who cost £2.75m from Feyenoord in 2004. Since then, he has played 177 games and scored 63 goals — including 20 last season to finish as the club's top goal-scorer.

Van Persie is believed to have agreed a four-year deal worth £70,000 per week, which ends months of speculation about his future. However, the Holland international says he never had any doubts about not extending his stay at Emirates Stadium.

He said: “I'm so happy to have signed a new long-term contract. I've been at the club for five years now and there really is a great feeling here.

“We have a top-class manager, a squad full of superb young players, a world-class stadium and brilliant supporters. Arsenal have a very bright future and I want to be part of it.

“My heart is with Arsenal and I just can't picture myself in a different shirt. I just can't see it now because I love this club so much.

“If you look at the last five years, look at the steps I have made every season, if you look at the support the boss and the whole club gave me, the fans gave me, my team mates gave me — this is the right decision.”

Van Persie's deal is another boost for Wenger, who has already seen Cesc Fabregas distance himself from a move to Real Madrid.

The manager said: “Robin is a hugely gifted player and has the talent and goalscoring ability to win matches at the very top level. We have already seen many times what Robin is capable of on a football pitch but, at only 25, there is still much more to come from him. Robin has the potential to become a true Arsenal great.”

Wenger has already moved to tie up the long-term futures of youngsters Jack Wilshere, Aaron Ramsey and Kieran Gibbs this summer, while Gazidis believes next season looks bright for Arsenal.

He said: “There are plenty of reasons to look forward to next season with optimism. Our young players have some high-level experience under their belts and they will be one year older and better, mentally and physically.

“They will learn the lessons from last season and will be better players next year as a result. They are ready for the challenge.”