Ridley believes that Wenger lacks the ability to spend the money wisely enough to turn Arsenal into an European power. However he cites the case of Ferguson rebuilding Manchester United in the late 1990s and winning the European Cup. He doesn't believe that Arsene, even with money would be able to emulate Sir Alex's success. Of course he misses out on the irony that neither has Ferguson. Spending ever larger amounts of money the Holy Grail has continued to evade him; it is believed that Sir Alex wants one more European Cup before he retires. It could be said that Arsene has achieved just as much, or just as little, over the last five years as Sir Alex, but by spending far less money. So has Alex spent anymore wisely? And when you can spend £25 million on players like Ferdinand or Rooney its hardly a gamble. Wenger would have loved to have bought either, he didn’t have the dosh.

Real Madrid recently had a period of dominance in the Champions League, although that now seems to have come to an end. The method used to achieve this dominance was of course spending millions of pounds, and the so-called Galaticos system. It is unlikely that Arsene would want to copy that system, or that Arsenal could even afford it, even with the new stadium. To some extent Chelsea are using a form of the Galaticos system by spending any amount necessary to buy the players essential to winning in Europe. However they have also built on the strong foundations that Ranieri left behind. He got to the quarterfinal of the CL last year, as has Mournrhino this; but there seems to be an assumption that Chelsea will win the competition. However I would urge caution, the competition is not finished yet, and there are some very strong teams involved. However if Chelsea do succeed it would be after spending £200 million in two years, a strategy that Arsenal are unable to copy.

The riches that Ridley claims Wenger will have, some £30 million is peanuts in a market dominated by the likes of Chelsea and Real Madrid. Also the claim that Wenger cannot develop defenders is not entirely proven. According to Ridley Campbell fell into Wenger's lap, almost as if in a moment of absent mindedness. I find that rather sloppy journalism Wenger had to pursue a cloak and dagger strategy to smuggle Campbell away from big clubs, like Inter Milan, and stretch Arsenal's pay policy to the uttermost limit to secure his man. True Ashley Cole was already at Highbury, but Silvinho was a very good purchase, and Gale Clichy is another brilliant find. Wenger has presided over three excellent left backs. It was his decision to promote Cole beyond the highly talented Silvinho. Of course it is too early to make a serious judgement on Senderos, but he certainly is looking a useful prospect. Upson insisted on leaving and I am not sure he is better than Toure. Last year we had the best defence in the league, it is true that injury to Campbell has undermined the stability of the defence. But I think that reflects the lack of money for adequate cover, not Wenger's inability to recruit good defenders that has seen defensive decline this season.

Wenger has only managed Arsenal for eight seasons, Ferguson has managed United for 18 seasons so it is far too early to make such overarching judgements. How analytical is it to assume that Wenger cannot continue to learn and improve? He has massive experience, and knowledge, learnt under difficult circumstances. Yet his achievements are immense, who else could take a middle-ranking club no bigger than a Tottenham, and probably smaller than a Liverpool or Newcastle, into the world's top six. And the reason for that rise has been the attractiveness of the football the Arsenal play. It is not the gate money that has made the club a success, but TV money from around the world where millions love to watch the kind of football his teams play. Are we really going to throw all that away for a spin of the roulette wheel, which is the knockout competition of the Champions League?

This season is not over yet we could still win the cup and achieve at least second in the league. We are in the top 16 of Europe alongside Real Madrid, Manchester United and Barcelona. By going 49 games unbeaten Arsene set himself an almost impossible act to follow, according to the baying pack only back to back European Cups would prove his team a success. He actually achieved the record with a very limited depth of squad, and set out with an even thinner squad this season to retain it. If he has made a mistake it is his attempt to win the league again on such a shoestring. But it is an understandable mistake by a man so deeply involved in building Arsenal into a world club that the bigger project has undermined the immediate prospects. However it is too early to pronounce that Arsene cannot get the project fully back on track. As Arsene said a year or so or go when compared unfavourably with Real Madrid; Arsenal are a big club it is just that people don't know it yet.