Ray Parlour believes it’s time for Arsenal to take some risks in the transfer market in an attempt to get themselves back into contention for the Champions League.
The Gunners sit ninth in the Premier League and are set to miss out on the top four for a fourth successive year, with their continued absence from Europe’s elite club competition taking a heavy toll on the club's finances.
And with the financial implications of the coronavirus pandemic now adding to Arsenal’s problems, transfer business at the Emirates Stadium this summer is expected to be extremely difficult.
But Parlour - who won three league titles and made a record 333 Premier League appearances during his 12-year senior career in north London - says his former club must find a way of strengthening Mikel Arteta’s squad, even if it means they have to take a gamble.
“Maybe they have to take a few more risks which probably they don’t want to do but sometimes in football you’ve got to take a risk,” he told Goal.
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“Because if you can get the right players in, suddenly you can turn things around and turn the club around because you can compete again with the best.
“And that’s when you can attract big players in the Champions League.”
Parlour added: “You’ve got to be clever, you’ve got to wheel and deal sometimes because Arsenal are not a club who are going to be competing with the likes of Manchester City [in the transfer market].
“Not having Champions League football is a real burden on the financial situation, that’s why it’s so important to try and get back in it as quick as possible. They had a massive chance last year in the Europa League final, if they had won that.
“Now they have to find a way somehow, I don’t know what route they take to get back there, but we’ve seen what it’s done for Spurs and that’s what Arsenal have got to try and get back to.
“But it’s not as easy as you think, it’s not simple because you are competing against good teams, even teams like Wolves now who have improved so much.
“And what happens with Newcastle if the takeover goes through? They are going to come in and say we are going to have a go at the top four. So it really is difficult to get into the Champions League now.”
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Arteta is keen to improve his squad at the end of the season, with a central midfielder now top of his priority list having just completed the permanent signings of centre-back Pablo Mari and right-back Cedric Soares.
Atletico Madrid’s Thomas Partey is a target, but his £44 million ($54m) release clause could prove prohibitive, unless Arsenal raise some significant funds with some sales once the window open - something Parlour believes could happen.
“There are also some players who you would probably think they could do without,” said the former Gunners star. “There are quite a few players whose contracts are running down.
“I don’t know what they will do with Lacazette. Nketiah is getting a chance now and he’s still a young lad.
"He’s still got to improve and get better, but Arteta might be saying ‘l like what I’m seeing in training from him and I know he will improve’.
“So it will be interesting to see what he does with certain players. Whether Aubameyang stays I don’t know and obviously it’s important to sign Saka up to a long-term contract. He’s been excellent.”
Parlour added: “It’s down to the club now recruitment wise. Arsenal have to get that right.
“They’ve brought Edu in, someone who has played in very good dressing rooms, he was part of the Invincibles and he knows what sort of characters you need if you are going to be successful as a team.
“That’s what his hardest job is now, finding those players who have got good characters that rub off on other players. That’s the hard bit, trying to find them.”
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