London, Feb 21 : Under-pressure Arsenal manager Arsene Wenger would be given a transfer budget of 70 million pounds by the Emirates board at the end of the season to rebuild the Gunners following yet another disappointing and seemingly trophy less season this year.

The Gunners boss will attend Thursday''s monthly meeting of directors facing the biggest crisis of his reign, the Daily Mirror reports. Despite a growing feeling from fans against him, Wenger has been reassured that the hierarchy is fully behind him and will back him in the transfer market.

The Gunners are set for an eighth season without a trophy on the back of the disastrous defeat in the Champions League, as they are 21 points behind Premier League leaders Manchester United and were dumped out of both domestic cup competitions by lower-league opposition, the paper said.

The Gunners face a battle to qualify for next season''s Champions League, but club suits intend to back him fully in the transfer market, even if they miss out on playing in Europe''s elite competition for the first time in 15 years, the paper added.

It is understood Arsenal are drawing up two different lists of potential transfer targets, to be acted upon depending on whether they finish in the top four, but even if Arsenal only reach the Europa League or even miss out on European football completely, Wenger will still be given major funds thanks to the club''s 150 million pound Emirates sponsorship deal, the paper reported.

If Arsenal miss out on UEFA''s elite competition, the targets will be downgraded, and it could be a question of signing two or three players, with the emphasis on bringing in nasty, tough characters to strengthen the spine of the team, it further reported. (ANI)