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Club hope new policy will stop the Gunners losing out on transfer targets to big-payers Chelsea, Manchester United and Manchester City.
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But amid the fall-out from their disastrous 4-0 Champions League defeat at AC Milan there is an acceptance among the Gunners hierarchy that there must be a major change of direction.
But Arsenal have found to their cost in recent times that the lure of sky-high wages offered by the likes of Manchester City can tempt talented young players to leave. Last summer, they lost France midfielder Samir Nasri to City where he is earning a reported £200,000 a week.
Now Wenger is to be given the green light to spend big ? and pay big. The first beneficiary of any new policy is set to be in-form striker Robin van Persie.
The Dutch star has one year left on his current deal and Wenger should now be able to offer him the chance to almost double his wages as well as push for transfer targets like Edin Hazard of Lille and Mario Goetze of Borussia Dortmund in the summer. The club?s finances have never been healthier and there is a sizeable war chest at Wenger?s disposal.
The ?cash is king? approach has been evident in recent years ? first at Chelsea, then at Manchester City and more recently at Paris St Germain who have been spending fortunes on transfer fees and salaries under former Chelsea manager Carlo Ancelotti.
Now, at last, Arsenal are set to join to the big league. Their current wage bill is among the highest in the country but that is because Wenger insists that all squad players earn comparable sums.
Without the wage restrictions, Wenger will at least be able to compete on a level playing field with the other big hitters after seasons of bargain hunting during the transfer windows.
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