Arsenal manager Mikel Arteta worries that a lack of funds in the upcoming transfer window will prevent him from strengthening the team heading into next season.

"I don't know," Arteta told Sky Sports of his transfer budget. "It's a big concern. You need it to build a squad. It's not magic. You need to improve with quality, quality players in the squad and you need bigger squads to compete in this competition. There's the challenge."

Last summer, the Gunners spent £135 million on transfers under former manager Unai Emery, who was fired in November, including a club-record £72 million purchase of Cote d'Ivoire winger Nicolas Pepe from Lille.

After the Gunners' 2-1 over champions Liverpool on Wednesday, the club sits in ninth place with two matches remaining. As it stands, the team will need help to qualify for European football next season through the Premier League, but can control their own fate through the FA Cup. Facing Manchester City in the semi-finals on Saturday, the Gunners would ensure a place in Europa with a fourth FA Cup title in seven seasons.

Should Arsenal fail to win the FA Cup, their bid for Europa could be assisted by the team that does win. City has already qualified for the Champions League and the other two semi-finalists - Chelsea and Manchester United - are almost assuredly heading to Europe in some fashion next season, as well. If the team that wins the FA Cup has already qualified for Europe through the league, the spot given to the winner would go to the seventh-placed Premier League team. While Arsenal would still need results of other fixtures to go their way, they would still need to win their final two matches - at Aston Villa and home to Watford - to finish in the top seven.