As we head towards the end of the largest shopping spree in football, the summer transfer window, both Premier League representatives from north London (Arsenal and Tottenham Hotspur) seem to be preparing for a last ditch trolley dash for talent that will hopefully help them gain that all important and valuable Champions League spot.

Out of the two, Tottenham Hotspur seem to be the team spending what seems to be the money coming in from Madrid for the transfer of Gareth Bale. The team has broken their own transfer record twice this summer with the purchases of Brazilian international Paulinho (£17m) and then Spanish centre forward Roberto Soldaldo (£26m). But Spurs seem to be on the brink of yet again breaking that record with the imminent arrival of Willian from Anzhi for a hefty £30m. That isn’t all the late shopping list completed though, as more are rumoured to be heading through the doors at White Hart Lane, with Real Madrid full back Fabio Coentrao and Roma striker Erik Lamela possibly targets, which if both go through, will make Spur’s total spending this window around £120 million, showing a level of optimism from the chairman and a message to rivals that Tottenham certainly mean business this season in an attempt to break into the top four.

After Saturday’s defeat to Aston Villa, it seems now that Arsene Wenger has finally been hit on the top of the head with the transfer hammer, and now intends to splash the cash, in a summer in which Arsenal, unlike the three teams that finished above them, were well placed to mount a title challenge had they bought early, instead it seems panic buying is in order at the Emirates, with a £12 million pound bid sent to Newcastle for stay playmaker Yohan Cabaye, which was rejected. Arsenal in my eyes have left it all too late, and only big bucks will prize players away now as the season has begun. Injuries and suspensions and lack of depth in the squad will now prompt the Gunners to spend on more quality, although previous panic buys such as Sebastian Squllaci proved mega flops in the Premier League.

At this stage, Tottenham are without doubt the stronger of the two North London clubs and with hardly any time left to spend, it could be difficult for Arsenal to make any key signings to turn the tide.  It’s simply a case of well spent Spurs and too little, too late for the Gunners.