London - Arsenal chief executive Ivan Gazidis admitted on Wednesday that the side may need new signings in the summer, but insisted manager Arsene Wenger's focus on youth has left the club in a "very promising situation".

Wenger has been heavily criticised for his reluctance to bring in new signings following a fourth straight season without silverware.

But Gazidis believes that the club are well positioned for the future.

"We have a team with an average age of 23 or 24 that went to the Champions League semi-finals and is going to get better," he said.

"Does it need to be supplemented? Quite possibly but it is a very, very promising situation for the next four or five years.

"Right now, I think it's important to have some perspective and be brutally realistic with ourselves - but not only on the negative side, on the positive side as well."

Wenger has suggested that as the financial crisis bites, Arsenal will find themselves in an increasingly healthy position.

Although this season has been a disappointment, his side have improved as the year has gone on, and they are all but certain to finish in the top four and so qualify for the Champions League - although fourth place could mean an awkward play-off.

"I am not happy where we ended up but I am pleased we are disappointed by it," said Gazidis.

"There are other clubs who would feel this is a good position, or we could say, in December, if someone had said we'd have been in this position, then we would have bitten their hands off.

"So why aren't we feeling great about it? The answer is because we have higher expectations. But this is not a situation where we should be over-reactive and feel that we are in crisis. We are not."(dpa)