Chief executive Ivan Gazidis believes Arsenal are the perfect model to follow as Premier League clubs prepare for financial regulation.
UEFA have already introduced Financial Fair Play guidelines for clubs to live within their means and from next season they want clubs to balance their books in order to bring their annual deficits down by 2018.
With the Gunners having recently posted a healthy pre-tax profit, Gazidis believes they provide the perfect model which could be adopted by more clubs as they look to become self-sustaining.
He said: "Arsenal were operating this way a long time before football looked at it and decided it would be a good path for football to move into.
"I think people believe money can be spent without consequence and if we learnt anything from the financial crisis the world has had over the last few years it has to be unsustainable spending and unsustainable environments don't last forever.
"I think football is in a fantastic position to address this because we are in a position where I am very optimistic for the future of football. The revenues the game generates, particularly the Premier League's position, is fantastic.
"This is a very successful UK industry and it deserves a lot of credit for that. This is a great time for us, when things are going well, to address issues of unsustainability while we can because as we've learned addressing them from a position of weakness is never a satisfactory way to do it.
"The Premier League owners are coming together: I think there is a developing consensus around the fact we need some form of tighter financial regulations to make sure as we look forward that the interest of the Premier League, its clubs and the fans are well protected.
"(And) we are running our league on a sound financial business model and taking advantage of what this league has to become the world's leading sports league."
According to Gazidis, the Gunners have always tried to strike the balance between the long and short-term and have managed to resist just pushing for the latter without taking heed of possible consequences.
He also defended manager Arsene Wenger, who many have accused of letting the club fall far behind the likes of the Manchester teams due to his perceived aversion to spending money.
Gazidis said: "I don't think Arsene is conservative, I think he is extraordinarily brave. I think he does things others don't do and sees things others don't see.
"Arsene is not fixed on the price of a player in assessing a player's value, he will look with equal weight at a young player who is coming through the Arsenal academy and a player that might be available with a very hefty price tag from overseas.
"He is not afraid to spend money when he believes in a player and sees a player he thinks can kick us forward but he is not obsessed with the security that a big transfer fee might give him."
While he understands the criticism that has come the club's way because of the lack of silverware, Gazidis is convinced the wait for a trophy will soon be over.
He said: "I think the time when we have to continue to ask them (Arsenal supporters) for patience is coming to an end and I think we will be able to deliver the kind of success they want on a consistent basis going forward as one of the leading clubs in Europe."