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Mikel Arteta likely to make do with loans and free transfers as cash-hit Arsenal face summer of turmoil after posting losses of £27m

Ray Parlour believes Arsenal must ‘take a gamble’ if they are to challenge for the Champions League places next season — but the club’s financial turmoil means it won’t be quite so simple for Mikel Arteta.

Gunners boss Arteta looks likely to have to make do with loans and free transfers this summer with the club facing huge losses in the wake of the coronavirus crisis alongside the issue of having star players like Mesut Ozil on huge wages and being unable to get rid of them.

Arteta’s task to rebuild Arsenal into a top-four club again looks a gargantuan job with the club ninth in the Premier League table and battling even to qualify for the Europa League let alone the Champions League.