The truth about Arsenal's transfer money

Abou Diaby: Permanently crocked and drawing tens of thousands in weekly wages

The eternal question is does Arsenal have a "war chest" to buy players? And if so, why don't they? This post which I discovered via Arseblog lays it out very nicely. In summation, we don't because of huge overheads and a wage bill that continues to grow contributing to a less than salubrious situation.