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Chief executive Ivan Gazidis has raised the prospect of some high-profile arrivals at Arsenal by declaring that manager Arsene Wenger will not be encumbered by financial constraints in the transfer market.
The north London club are reported to be actively seeking new recruits as they bid to end an eight-year trophy drought, and Gazidis says they will be targeting the world's leading players.
"It is going to be the players that Arsene believes in," Gazidis said, in comments reported by several British media outlets on Friday.
"He is pretty blind to price tags. He looks at what he sees with his eyes and makes judgements based on that, and not on reputations and prices."
Arsenal have been linked with Manchester United striker Wayne Rooney, who has asked to leave the Premier League champions.
Asked if Arsenal could afford a player who commanded a £20 million ($31.2 million, 23.5 million euros) transfer fee and a £200,000-per-week salary, Gazidis replied: "Of course we could do that. We could do more than that. We have a certain amount which we have held in reserve.
"We also have new revenue streams coming on board and all of these things mean we can do some things which would excite you, (but) what excites Arsene isn't necessarily what excites you (the press)."
A report by financial analysts Deloitte published earlier this week showed that Arsenal generated £235 million of revenue in the 2011-12 season, trailing only United and Chelsea.
Arsenal's 60,000-capacity Emirates Stadium generates around £3.3 million per game, while recently agreed commercial deals are reported to be worth in the region of £70 million.
Wenger has traditionally been reluctant to authorise big-money player acquisitions, but Gazidis believes the club's financial footing means they should eventually be able to operate on a par with teams like European champions Bayern Munich.
"We should be able to compete at a level like a club such as Bayern Munich," he added.
"I am not saying we are there by any means. We have a way to go before we can put ourselves on that level, but this whole journey over the past 10 years really has been with that goal in mind."