Dein resigned from the Arsenal board in April

Former Arsenal vice-chairman David Dein is heading a company that plans to gain a significant stake in the Gunners after selling his shares to Usmanov.

Wenger said: "What is happening (in the boardroom) is nothing to do with me.

"If I want to buy a player today then I have money available. We're doing it our way and are happy with that."

News Conference: Arsenal manager Arsene Wenger

Interview: Arsenal managing director Keith Edelman

Wenger suggests that Arsenal do not need major investment to compete at the highest level, despite rivals Manchester United, Chelsea and Liverpool outspending them this summer.

And the Frenchman does not share Dein's concerns over the club's ability to compete in the Premier League and Champions League.

He insisted: "If I want to buy a player today then I have money available.

"Maybe I'll need money in four, five or six years but that will depend on how much money the other clubs have and what the average salary is.

"I believe I can compete and be successful because I have a team that can win the Premiership and do well in the Champions League. That's why I'm here.

"There are many ways to work in the game. We buy good players when they come on to the market, but generally we have gone for a different solution and we will continue to do that.

"It's my decision to take this route."

Dein, who resigned from the club's board in April, sold his 14.5% stake in the club for �75m to a firm co-owned by Usmanov.

Dein has been named as the company's chairman and says there is "no current intention" to mount a takeover bid.

But he said: "I've not lost my passion for the club. My ambition remains to play an active role in Arsenal again."

Dein left the board after it refused to back his plan for a takeover by American businessman Stan Kroenke - and BBC Sport's Jonanthan Ledgard understands his latest move meets with the approval of Arsenal manager Arsene Wenger.

we realise David has sold his shares to Red and White owned by Mr Usmanov, we note that but don't believe it changes anything for Arsenal Arsenal managing director Keith Edelmann

But, as chairman of Red and White, he says he is keen to increase the company's stake in the club.

Dein said: "The announcement marks a significant step towards realising the vision I share with thousands of fans at home and abroad of making Arsenal the world's number one football club.

"I have not lost my passion for the club; indeed, it is greater than ever.

"I have been flattered by the generous offers I have received since April to work with other clubs, both in England and elsewhere.

"But there is only one club for David Dein and that is Arsenal.

"My immediate intention is to work with others to provide the financial resources necessary to turn the vision into reality.

606: DEBATE A take over is good for everyone as long as Dein is invovled lbm

"To provide these financial resources, Arsenal need new investors. The reality is that football is changing dramatically. A growing number of clubs are being funded by individuals or consortia that are prepared to invest previously unimaginable sums aimed at winning the game's biggest prizes.

"Without new investors, I feel very soon Arsenal might not be able to compete successfully at the very top level, despite the fantastic work of Arsene Wenger."

However, Arsenal's managing director Keith Edelman says the club do not need foreign investment and are well-placed to fend off any takeover bid.

Edelman said: "We are in a very good position, we realise David has sold his shares to Red and White owned by Mr Usmanov, we note that but don't believe it changes anything for Arsenal FC.

I have maintained my close friendship with Arsene Wenger. I believe our professional partnership over many years was highly successful and beneficial for the club we both love David Dein

"The current shareholders on the board control over 45% of shares and we believe the way the club is being run and the financial strength of the club will come through."

"The club is in a very good position, and the stadium is producing very large cash balances for us."

He told BBC Radio 5live: "We are in a very good position. We can support Arsene in anything he wants to do in developing the team or the squad, so we don't see a reason for further investement."

Edelman added that he hopes Gunners boss Wenger will commit his long-term future to the club and Dein, who had a close relationship with the Frenchman, is also keen for him to stay on.

"I have maintained my close friendship with Arsene," Dein said. "I believe our professional partnership over many years was highly successful and beneficial for the club we both love.