i think wenger makes the list of players he wants and then sends his negotiating team to sort out the transfer i.e gazidis and
dicky law (who is very good as he is multi lingual and has many contacts around south america / spain very handy) to sort out the finer details (get a cheaper deal) of the deal, and broker terms and then it gets presented to the board (who
give wenger and gazidis the budget to which they work with) for final approval.