Arsenal may be forced to employ an inexperienced manager due to their shrinking finances, a report by Sportsmail has said.
The club has been searching for a manager since the sacking of Unai Emery last Friday. Names such as Mauricio Pochettino, Max Allegri and Carlo Ancelotti have all been linked with the job at the Emirates Stadium.
However, the Gunners may be unable to employ any of them due to their shrinking finances. The club has not featured in three Champions League competitions, losing a chunk of money that even their final berth at the Europa League last season could not offset.
The North London club posted a profit of £70 million in the most recent financial year, but that figure was almost entirely down to player sales totalling £120 million including Alex Oxlade-Chamberlain, Olivier Giroud and Theo Walcott during the 2017-18 season, without which they would have made heavy losses.
The club have invested heavily in the playing squad since with Alex Iwobi the only significant departure so will make a loss on player-trading in their next accounts, a problem compounded by only modest growth in their commercial revenues.
Although the report says the club are willing to improve the £4 million it paid Emery, it is not willing to pay over double of it, which is what the big coaches are likely to demand.
Arsenal may also not be able to afford Brendan Rodgers and Nuno Espirito De Santo of Leicester City and Wolverhampton Wanderers respectively due to the combination of compensation and wages required to secure in-work managers.
The club have been tipped to prefer to give the job to interim coach, Freddie Ljungberg, full time or move for Manchester City assistant coach, Mikel Arteta, who is believed to demand a more affordable wage due to his lack of experience.