Arsenal Transfer Rumors: Gunners Must Finish in Top Four to Spend Big

Arsenal needs a Champions League finish to the Premier League season to make significant transfers and spend big.

According to the Daily Mirror, the Gunners need a top-four finish in order for Arsene Wenger and Arsenal to acquire A-list transfers following the 2012-13 season.

The Mirror reports that Arsenal has roughly £123 million in reserves—£70 million of which would be allotted for the Gunners to spend on transfers if they make it to the Champions League this season.

If the Gunners fail to finish in the top four and are forced to compete in the Europa League, Wenger can likely kiss potential transfers like Steven Jovetic, Mario Gotze, David Villa, Luiz Gustavo and Victor Valdes goodbye (h/t the Mirror).

Arsenal currently owns the fifth spot in the EPL table with 47 points, five points behind No. 4 Chelsea and seven behind third-place Tottenham Hotspur.

The Gunners had a chance to get closer to moving into fourth place on Sunday, but instead they lost 2-1 to Tottenham, pushing them further from fourth-place territory.

Arsenal has a favorable schedule going forward, as it only plays one team ahead of it in the EPL standings, with that team being first-place Manchester United.

If the Gunners aren't able to move up one spot in the standings and fail to make the Champions League, Wenger and Arsenal have a backup list of transfers to target, including Yohan Cabaye, Simon Mignolet, Victor Wanyama and Pepe Reina, according to the Mirror.

Arsenal's next Premier League competition will come in the form of a tough Swansea City club that ranks eighth in the standings and has won two matches in a row.

If the Gunners are going to pull this off and spend big on transfers, it all starts on March 16, when Arsenal will be looking for Theo Walcott & Co. to defeat Swansea, a club it's 1-1-1 against this season.

Follow me on Twitter: Follow @Pete_Schauer