As the season draws to a close we are all turning our eyes and blogs towards the off-season version of fantasy football – speculating about who we are going to buy. Anticipation is growing that Arsenal FC are in their strongest financial position for many years and even better that the board are ready to unleash Arsène onto the most benign transfer market of recent times. A combination of recent massive spending by the Spanish clubs, financial hangovers at Liverpool and Man U (even Chelsea to some degree) and the tightening of credit around the world mean that some of our traditional rivals for top players are not quite so ready to snatch the prize players from under our noses. Set against that, new rivals like Man City and the Spuds will have their own attractions for the stars that emerge from the World Cup, and our tax regime has to be the least attractive in Europe for the big guns.

The speculation is that we have £30m, £40m, maybe even £50m to spend on players this year, beyond any money recouped from player sales. The more cynical or realistic among us might doubt that the board is really ready to change the habits of a lifetime, or indeed might think that our manager is genetically incapable of splashing out. Others can point to his eye for a player (Vermaelen surely the best buy in Europe in the last 12 months and Chamakh could be a bargain free transfer) and the recent, persistent bullish announcements from our manager, our Chief Executive Ivan Gazidis and the Board which all indicate that they are ready to bring in the experienced talent that we need to move from good to great again.

We want to gauge the mood of Gooners everywhere – if Arsène really does have £50m in his back pocket, what should his priority be? Should he focus on one really top signing? A Torres or Villa – the type of player who can take us on to the next level and be part of a strategy to build the best squad in the world over the next few years, then spend the change on short term signings where necessary. Haven’t we bought enough ‘promising’ players already?

What about getting the spine right with a GK, CB and DM in the range of £10m – £15m each? They won’t necessarily be the world’s best but might be a better balanced way of strengthening the whole team. On the other hand, will that give us a team capable of consistently beating Europe’s best in the future?

Another option is to invest in what Arsène has called the strongest squad he has worked with. Up to £17m has been spent this year on extending contracts within the squad – should this continue to be the core strategy? It isn’t just the young players, what about upping Cesc’s contract again to fend off the temptations of Spain?

Alternatively, why spend the money just because it is burning a hole in his pocket? If the right players aren’t available, should he hang on to the cash and roll it over to the next transfer window, when Arsenal’s financial strength and footballing class along with the further demise of our rivals might make us even more attractive?

Vote in the poll below and let us have your comments about how he should be spending the results of five years of prudent financial management, and on whom.