ARSENAL chairman Peter Hill-Wood believes Arsenal’s current squad is more than capable of challenging for honours and insists major reinforcements won’t be required.

Manager Arsene Wenger is adamant his crop of players can cut it at the top and has earmarked just one central midfield enforcer as his only transfer target before the window closes on September 1.

Many Gunners fans are anxious following Saturday’s 1-0 defeat to Fulham, however Hill-Wood has learnt in his time on the board that the fans cannot always be pleased. "The first lesson is you don't necessarily do everything the fans want you to do," he said. "I am a fan too and I would love to have a squad that is much better than everyone else's."

Some sections of supporters have become disillusioned with events at the Emirates, having seen the departures of several big names including Mathieu Flamini to AC Milan and Alexander Hleb to Barcelona, while it is also thought that Swiss defender Philippe Senderos may leave to join Flamini at the San Siro this week. Samir Nasri is the only high-profile name that has been brought in but Hill-Wood claims money is available for Wenger to buy.

"I keep saying money is available but I am not going to say how much. But it is enough to buy an experienced international player."

Hill-Wood conceded that the performance against Fulham was poor but is looking forward to Wednesday’s match against Steve Mclaren’s FC Twente and hopefully being in the draw for the group stages. "We didn't play well at Fulham on Saturday but I think all this stuff about us having to buy a complete lot of new players is rubbish…We have won one match and lost one in the league and hopefully we will be in the draw for the Champions League."