Raul Sanllehi has warned Arsenal fans not to expect a big spending transfer window this summer, according to reports.
The Gunners are said to be in a financial crisis brought on by coronavirus.
Much of the Arsenal squad have agreed to take a pay-cut of 12.5% for the next 12 months in an effort to help balance the books.
Arsenal are already set to lose out on millions financially from this season, having already refunded fans who had purchased tickets for their remaining four home matches.
In the weekly video call with all non-playing employees, hosted by Sanllehi and chief executive Vinai Venkatesham, the Spaniard is understood to have explicitly played down the prospect of expensive signings in the next transfer window and said transfers are not considered a priority at present.
Independent analysis by the Arsenal Supporters’ Trust, published this week, estimates that the club are now set to make a loss of £144million for the 12 months that end on May 31, 2020.
The north Londoners have shown steady improvement under Mikel Arteta and were expected to splash out to bolster the squad this summer.
Arsenal have been heavily linked with Atletico Madrid midfielder Thomas Partey, who has a release clause of €50million.
However, following Sanllehi’s update, that deal now looks in severe doubt.