Arsenal will only spend money when they deem it necessary as chief executive Ivan Gazidis believes the club now have a squad good enough to win the Premier League for the first time since 2004.
The Gunners finished a distant second to champions Leicester last season, despite sitting to of the table at the turn of the year.
It means Arsene Wenger has failed to deliver the title to the club since the memorable unbeaten 2003/2004 campaign.
Since then they have been left behind as the likes of Chelsea, Manchester United and Manchester City spent big in their quest for trophies.
But Arsenal themselves have plenty of money, with fans left angered by the revelation in February that there is well in excess of £100million in cash reserves.
Despite that, Wenger did not recruit a single outfield player last summer, buying goalkeeper Petr Cech from Chelsea, and only added midfielder Mohamed Elneny from Basle during the January transfer window.
This year he has brought in Switzerland midfielder Granit Xhaka for a hefty fee similar to those paid in recent summers for Mesut Ozil and Alexis Sanchez.
But Gazidis has warned supporters not to expect an influx of big-money buys as they watch their rivals splash the cash.
“This approach, for us, gives us a very, very powerful balance because it’s not just about spending money but about how you spend your money and doing it wisely,” Gazidis told ESPN.
“It’s about having a strong core philosophy and values within the club that players buy into and our fans can be proud of.
“These are all things that lead to success, and when you look at Arsenal over the last four or five years, there’s no question that the squad has been progressing in strength.
“We’ve got a squad now that we believe is capable of competing to win the Premier League. We came in second last year, which was disappointing. But we’re on the right track.”