London: Arsenal club management has given under-fire manager Arsene Wenger a purse of 55 million pounds to spend in the summer. The Frenchman has come under heavy criticism for his failure to buy players and rely on inexperienced youngsters. (Also Read: 'Wenger still the solution at Arsenal')

Arsenal sold club captain Cesc Fabregas and French midfielder Samir Nasri before the start of the 2011-12 season and bought youngsters like Ryo Miyaichi, who is currently on loan to Bolton Wanderers.

The club's board and majority shareholder Stan Kroenke have reaffirmed their faith in Wenger despite being resigned to a seventh consecutive season without a trophy.

Arsenal's season went from bad to worse after they crashed out of the FA Cup after a 0-2 defeat to Sunderland. The only chance for the Gunners to win a trophy is if they overcome a four goal deficit against Italian giants AC Milan in the Champions League.

The Gunners hierarchy is adamant the Wenger will remain the club's manager until, at the very least, his contract expires in 2014. The only situation that would result in Wenger no longer remaining the Arsenal hotseat would be if he decided to resign at the end of the season, the Daily Mail reported.

Wenger is planning an overhaul of his squad in the summer with high profile names such as Mario Goetze, Lukas Podolski, Eden Hazard and Matias Suarez all featuring in the Frenchman's shopping list.