Former Arsenal boss George Graham has warned Arsene Wenger he needs to spend big on up to four major stars if he is to challenge Manchester United and Chelsea again.
The Gunners have been left to fight for second place in the Barclays Premier League at best as their title hopes and dreams of Champions League glory have dissolved in recent weeks.
Graham, who twice guided the club to the first division championship, believes they need to raise the stakes if they are to make up lost ground on the current top two.
He told BBC Radio 5 Live's Sportsweek show: "Arsene has got to sit down and be honest with himself, which I am sure he is.
"After three-quarters of the season, they were five points clear, absolutely over-achieving, and then in the run-in, they are stumbling all the time.
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