Arsenal manager Arsene Wenger Reuters

It is no secret that Arsenal are, financially, one of the most tightly run clubs in the Premier League... and possibly even Europe. Fans have long called on manager Arsene Wenger to loosen the purse strings, particularly to go after the high-profile big-name signings deemed key to title success.

A recent IBTimes UK report indicated Wenger is now prepared to do just that.

However, the flip side to spending big (and then there is the little matter of large wages for the high-profile players) is the need to keep the wage bill under control. Arsenal have been exceptional at doing just that with a strict structure in place and a cap on salaries.

Reports surrounding contract extension talks for the club's talismanic Dutch striker, Robin van Persie, have centered on the need to break that strict upper limit for wages; the point being that leading European clubs like Barcelona and Real Madrid would be willing to offer the striker far more than what he earns at the Emirates.

Now, a report in The Telegraph adds two more names to the list of players in line for improved contracts. Apparently the club's English wingers Theo Walcott and Alex Oxlade-Chamberlain are both due for contract talks.

The news does add credence to earlier reports from the Daily Mail that fringe players like Marouane Chamakh (who earns £60,000 per week), Andrey Arshavin (who earns £75,000 per week) and Sebastien Squillaci, Carlos Vela, Nicklas Bendtner and Denilson (all of whom earn £50,000 per week) are on their way out... to free up room for negotiations with van Persie, Oxlade-Chamberlain and Walcott.

Meanwhile, the news that young Oxlade-Chamberlain (who is all of only 17 years old) is due for a contract re-negotiation may come as a surprise for some people. However, the truth is that he has enjoyed a stunning first season with the Gunners, impressing not only with his precocious talent but also maturity and readiness to play for the team.

Wenger has personally admitted that he has been both "surprised" and "delighted" by his young star's improvement and is likely to double his £25,000 per week salary.

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