The Gunners legend feels that with the current squad, Arsene Wenger's men have little chance of winning the title and will only be competing for a Champions League spot
Ray Parlour has declared that Arsenal are unlikely to win the English Premier League title and will struggle to even finish within the top four with the squad they have at the moment.
Having only signed Yaya Sanago so far and with no other players looking likely to move to North London at the moment, Parlour feels that Arsenal will have a tough season ahead.
“It will be tougher to win the league now with the squad they’ve got,” the Gunners legend told Goal Singapore after finishing a press conference for the 2013 Singapore IG Masters Football Sixes.
“They still did get in the top four, but Spurs are getting better and they are trying to improve, trying to get into the top four [too].
“Liverpool are going to try and improve and if they keep Suarez and bring in a couple more players, they will have a chance to break into it.
“But I can see Manchester City, Manchester United, and Chelsea [having] better squads than Arsenal at the moment.”
The former England international also believes current Arsenal manager Arsene Wenger has done a great job, but reckons that it is time for the club to go out and spend some money.
“It’s tough you know; we have lost [Cesc] Fabregas, [Samir] Nasri and [Robin] van Persie for the last few seasons,” Parlour pointed out.
“But a lot has happened to Arsenal; moving stadiums is a big thing for Arsenal, it cost lots of money [and] they tried to build a stadium very quickly.
“I think Arsene Wenger has done a great job to get into the Champions League every single season, but now the debts are at a really good (low) level now. So it’s up to Arsenal now to try and compete.
“The reason they moved stadiums was to try and compete with the likes of Barcelona and Real Madrid and Manchester United. Now, it’s time to go out and buy the big players."
However, Parlour also feels it is not about Arsenal's unwillingness to fork out huge transfer fees, but rather their wage restrictions that is a big factor in attracting players.
“I don’t think they have got a big problem paying the transfer fees,” the 40-year-old said.
“But it’s the wages [situation], where players might get a lot more money if they went to Manchester City or Chelsea than if they went to Arsenal.
“They might have to change that to attract the better players.”