Former Arsenal manager George Graham has urged the club to back Mikel Arteta in the transfer market this summer.
The Gunners go into Sunday’s north London derby against Tottenham in 10th place in the Premier League.
Even victory over their arch-rivals is unlikely to move them any higher up the table.
Arteta will one day hope to replicate Graham’s achievements at the club, with the Scot winning two league titles at Highbury.
And Graham, who also managed Spurs during his managerial career, thinks Arteta will need to spend heavily in this summer’s transfer market to get Arsenal back into the top-four race.
“They have got problems, but they can rectify them with three players,” he told the Daily Express.
“Arteta is doing a very good job. But while he has improved the players, he has only improved them to a certain point.
“They have got to have natural ability to get to the next level. Arsenal have outstanding young players, but they need help. Quality players around them to show them the way.
“They need to go out and buy two or three players, each costing £75m to £100m.”
Graham also thinks Arsenal must improve their recruitment record, having been criticised for some of their recent transfers.
“Pierre-Emerick Aubameyang has made a point since he came into the club but not many others have enjoyed the same success,” he added.
“Alexandre Lacazette will get you a few goals here and there, but if you want top quality you want an Ian Wright or a Thierry Henry. Arsenal needs outstanding strikers.
“Then at the back they have just got to get rid of these stupid mistakes. If individuals keep making these mistakes, eventually you have to think, 'maybe they are not good enough'.
“It is a Scottish thing, but anything you build you start with the foundation and that is why I started at the back.
“Mikel Arteta will know the players he needs. If he buys intelligent players, he will make them into top-class defenders.
“Arsenal had waited 18 years before I won my first title in 1989. It's been 17 years now. The sooner that money is spent, the better.”
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