Arsenal's new manager Unai Emery will be backed with transfer funds to strengthen his squad this summer, according to the club's chief executive Ivan Gazidis.

Previous reports suggested that Arsene Wenger's successor would have just £50m to spend during the transfer window, but the businessman has now downplayed such rumours.

Speaking to reporters during Emery's first press conference as Gunners boss, Gazidis confirmed that the Spaniard will receive the same level of financial backing as his predecessor.

"We don't discuss our finances publicly but we run ourselves on a very clear and transparent model. Anyone who wants to look at our accounts can do so. All of the money has always been available to our manager and that will carry on," he said.

Emery, who won three Europa League titles with Sevilla, arrives at Arsenal off the back of a domestic treble with Paris Saint-Germain.