Arsene Wenger has admitted he is prepared to spend in January in order to boost Arsenal’s title challenge.

The Gunners dropped to fourth in the Premier League table after losing 2-1 to West Brom last weekend and will look to bounce back on Sunday when they travel to Carrow Road to take on Norwich.

Much to the dismay of many Arsenal fans, the club's only signing of the summer was goalkeeper Petr Cech, who arrived in a £10m deal from London rivals Chelsea.

Details of the club's accounts released in September revealed cash reserves of close to £200m and Wenger revealed he is willing to spend in January to aid Arsenal's push for their first league title since 2004 - but only if he can get a player he feels will improve his squad.

"We are in a position where we want to do something," Wenger said at his weekly press conference. "If I find the right quality I will do something."

With the impressive Francis Coquelin ruled out for at least three months after limping off against West Brom with an ankle injury, Wenger has been forced to reassess his options in central midfield.

Ahead of 'Black Friday', Wenger was asked if he would be bargain hunting for a replacement but - while admitting he loves a bargain - the Frenchman said Arsenal are willing to spend big for the right player.

Wenger said: "Who doesn't love a bargain? What is for us a bargain is to buy top quality as only top quality strengthens our squad.

"Patrick Vieira cost £2.5 million and was a top bargain, first of all because he was a top quality player.

"We spent £40 million on Ozil and I still consider it a bargain because we got a top quality player."

Arsenal received some positive news on the injury front this week as Aaron Ramsey returned to action as a substitute in Tuesday's win over Dinamo Zagreb.

Alex Oxlade-Chamberlain could return at Carrow Road while fellow England international Theo Walcott is back in training and is close to a comeback.

However Alexis Sanchez and Joel Campbell both sustained minor injuries in the win and Wenger said he will assess their fitness over the weekend to determine their availability against the Canaries.

"Sanchez had a little hamstring alarm but we will see how he recovers from that," Wenger said. "Joel Campbell had a little calf problem so I will assess all that Friday, latest Saturday."

Source: skysports