The Gunners have seen expiring deals become an unwelcome distraction over recent years, with too many agreements with key men being allowed to dip below 12 months.
Mesut Ozil was eventually tied to fresh terms last season, but Alexis Sanchez and Jack Wilshere have departed the club and the likes of Ramsey and Danny Welbeck are now heading towards free agency.
Arsenal legend Wright is disappointed to see history repeating itself in north London, with there being no excuse for experienced campaigners behind the scenes to be taking so many risks with on-field talent.
He told Sky Sports: “That Ozil situation has had a massive effect on what’s going on right now because Aaron Ramsey is captain material.
“It should have been done ages ago. Ivan Gazidis has got a lot to answer for for this to happen because Ramsey should be a focal point in the team.
“He’s somebody who is the heartbeat of the team and when it’s going poorly or badly, he still shows for the ball and tries to play how he wants to play, tries to get in the box and des things.
“He’s somebody that I’d like to see stay because I think he is that player who is never afraid. He scores goals.
“I like him simply because when he gets in there he will finish and he’s somebody that, given a run of games, he will do something because he’s not afraid.
“He doesn’t hide. He’s somebody that if they can get it going, I’m desperate for him to stay but I do understand that Arsenal cannot continue to let players dictate like they are now.
“If it’s going to happen, take the contract off the table, take your chances with it.”
Arsenal manager Unai Emery has been unable to offer any assurances regarding Ramsey’s future, with the Spaniard in the dark when it comes to discussions with the Wales international midfielder.