It rose something stupid like 30m in two years, which coincided with those signings (plus also the new executive appointments).
The wages are screwed but Gazidis has consistently stated that they are restructuring and Wenger's comments last week said, to me at least, that they are actively waiting for certain deals to expire (or be offloaded if you like) before looking to redistribute the wages, rather than increase the budget unless it is for a big exception.