The Gunners boss has faced criticism for his perceived lack of activity in the transfer market in recent seasons, but he has now been publicly backed by the club's hierarchy
The Arsenal boss has faced criticism for his perceived failure to sign replacements for Cesc Fabregas and Samir Nasri, who both left the Emirates in August 2011, and has been accused of allowing the club to falter in the race for the Premier League title due to his lack of activity in the transfer market.
But, Gazidis insists Wenger considers a host of options when assessing how to bolster his squad and maintains that a large fee spent on a player may not always be the correct decision.
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"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," Gazidis told BBC Radio 5 Live.
"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."
Gazidis also believes Arsenal are poised to end their seven-year wait for a trophy, saying the club can achieve regular success.
"I think the time when we have to continue to ask them [the 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," he added.