Arsenal chief executive Ivan Gazidis has slammed big-spending club Manchester City, highlighting the fact that the Sky Blues are left in only one cup competition this season.

City are still in the Europa League, while Arsenal are enjoying FA Cup and Champions League runs.

"Manchester City would love to be in three competitions," Gazidis said. "Money is not everything in this game. I don't disagree that it's important, but we do things based on a value system.

"We're about creating star players, not about buying them. We can't afford to compete with oil money, and we can't afford to compete with super-wealthy individuals from Russia.

"But I think the more important thing about our model is that it's sustainable."

Arsenal are currently fifth in the Premier League, 18 points off leaders Manchester City.