Manchester United might have got the edge over Arsenal in the championship, but the Highbury club will be back on level terms by the summer at least.

Despite spending £24 million on Jaap Stam and Dwight Yorke last season, Alex Ferguson has already been told there will only be about £12 million in the transfer kitty to improve the United squad this year, which brings the megarich Mancunians right down to the spending levels of mortals such as Arsenal.

With a new ground a priority and finances nothing like MUFC plc's, Arsenal will also hand Arsene Wenger about £12 million to strengthen his squad in key areas as well increasing the body count to cope with the hectic fixture schedule ahead.

At the clubs' behest, next season's Champions League has been enlarged and enriched - financially at least - to the extent that on top of their Premiership and domestic cup commitments, Arsenal and United must fit in 12 European group games each between September and March, so doubling last season's workload in this competition. Indeed, the eventual finalists must play 17 games in all, 19 if they pre-qualify.

"The demands of the fixtures are absolutely amazing," admitted Wenger. "There are so many games in the Champions League next time that to cope with it you really have to build two teams, not just one." But this is the price clubs are prepared to pay for a jackpot of up to £20 million for the most successful clubs, and about £10 million merely for taking part in the group stage.

With extra income also coming from Arsenal's new multi-million pound shirt sponsorship deal with Sega, the Highbury board is quite happy to watch the rich get richer.

Until all that kicks in, however, Wenger must work his well-honed trick of finding inexpensive but quality players in the nooks and crannies of European football.

"Three new players would be ideal," he said, "but possibly up to five depending on whether we lose someone." The most likely departees are the midfielder Stephen Hughes, who may want a move in pursuit of first-team football, and the moody Nicolas Anelka, who agitates for a lucrative transfer in the French press then denies it in the English.

However, despite this daily test of his patience, Wenger says he is "95 per cent certain" that the young French striker will stay, though the pair are expected to hold talks during Arsenal's promotional tour to Malaysia and Hong Kong this week.

Even if Anelka does continue to honour us with his presence, Wenger would still like to bring in another goalscorer - he has been linked with Liverpool's Robbie Fowler - having already signed the soaring Nwankwo Kanu to fill in for the non-flying Dennis Bergkamp on those long European away trips.

In midfield too, Arsenal need better back-up for Emmanuel Petit and Patrick Vieira, a requirement all too evident during the team's disappointing European campaign last season.

Meanwhile, the foundation of Arsenal's success remains their immortal defence - in the league season just gone the number of goals they conceded, 17, was roughly half their average age - but reinforcements will now be needed to cope with the fixture glut.

"Nobody can play every game," said Wenger, "but we need experience at the back." Hence his interest in Dynamo Kiev's 30-year-old Ukraine international full-back Oleg Luzhny.

Wenger is busy this week signing his veteran defenders Lee Dixon, Nigel Winterburn and Steve Bould on new one-year contracts, firm in his belief that "the defence can go on for at least another season".

Wenger is not the only one keen to keep Anelka at Highbury. Kanu has revealed he and his fellow Arsenal players have pleaded with the Frenchman to stay at the club.

Kanu said: "I've asked Anelka to stay; we all want him here. I'm not his manager or his agent. But he knows that we all want him to stay, and we are hopeful that he will."

Whatever about Anelka, Kanu will definitely figure in Wenger's plans next season. Wenger declared: "When you look at what he has done this season you would think he will make a huge impact. He is different class.

"He has changed every game when he has come on as a substitute. I would like to use him as a regular as well, but it's difficult to find the balance with the three strikers.

"But there are so many games next season, and Dennis doesn't fly - so he will get opportunities. His fitness is much better and he is so intelligent. I expect a lot of him next season."

Kanu added: "I'm very popular with the fans; it reminds me of how it was when I was at Ajax. They seem to love me here. It's wonderful support; I really appreciate it, and that always helps."