Stefan Borson: Arsenal's PSR claim to their fans 'is untrue'
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Jakub Kiwior, Reiss Nelson and Fabio Viera also completed loan moves on the final day as the Gunners looked to trim their squad following their heavy spending.
Speaking exclusively to Football Insider, Borson said: “Well, they’re able to spend because financially they’ve been very successful over the last few years.
“They have been quite cautious in the way that they’ve spent.
“I think towards their fans they’ve suggested that they’ve got PSR restrictions.
“I don’t think that’s ever really been true, and they’re going for it.
“I think most of the league at the top is feeling the strain of competition, and I think people have come to the conclusion if they don’t spend, you’re not going to win the biggest prizes.
“So, I think people have got slightly carried away this summer.
“I think that the spending is really quite incredible.”
Credit: Imago
Elsewhere, Viera completed a loan move to Hamburg before the window closed after it was clear he wasn’t in Arteta’s plans at the Emirates.
The Bundesliga club have an option to buy the 25-year-old for £17.3million if he performs well in Germany this season.