Arsenal are "confident" that their "self-sustaining business model" is capable of financing major success, the club's new managing director said.

Vinai Venkatesham was appointed in the role after ex-chief executive Ivan Gazidis left in September.

"We've got a really clear ambition and that is to win the biggest trophies in the game," he told BSports.

"We want to do that in our way, respecting our values, history and traditions."

In August, American billionaire Stan Kroenke agreed to buy out Arsenal shareholder Alisher Usmanov for £550m and take full control of the club in a deal that valued the Gunners at £1.8bn.

After Gazidis left to join AC Milan, Arsenal restructured their senior management. Former head of football relations Raul Sanllehi became head of football and Venkatesham moved from chief commercial officer to managing director.

"We have a self-sustaining business model at this club. That means all the investments we make on the pitch are funded by the revenues we generate off the pitch," Venkatesham added.

"And we're really confident we can be successful with this model. The ambition we have for this club is completely possible to be achieved in the business model that we've got. "

'No dramatic change ahead'

Venkatesham said that Gazidis's departure would not lead to a change in direction for the club.

"Whenever a chief executive leaves an organisation it's nearly always a surprise but I do think the double act of Raul and I will provide stability to the organisation," he said.

"I don't see this as being a time for revolution, where things are going to be turned completely upside down. There will be some change, things will evolve, of course we will be looking improve and push the club forward, but don't think you're going to see dramatic change ahead."

Sanllehi added: "This is evolution, not revolution. We do believe they were in the right direction so that will go on."

Competing for the Premier League and Champions League

Arsenal's most recent trophy success came in May 2017, when they won the FA Cup for a record 13th time in previous manager Arsene Wenger's penultimate season in charge.

They last won the Premier League in 2004 but have never won the Champions League or its predecessor the European Cup, losing to Barcelona in the 2006 final.

"We last saw them [Kroenke and son Josh] two weeks ago and they are very, very clear - they are 100% committed to this club and want to get the club back in the Champions League, back competing for Premier League and competing to win the Champions League," Venkatesham said.

"They're behind that vision. Two individuals who are hugely passionate about the sport, very energised and excited about the future opportunity we have.

"I don't think fans should be concerned around any lack of engagement with the club going forward.

"One of the key things we've been speaking about over the past few weeks is how we can continue to step up our engagement with fans, look to build more constructive relationships with our fan groups as well. These aren't just words, these are things that are very, very important to us."