Arsenal legend Perry Groves believes it will take staggering amounts of money for the club to compete at the top end again.
Many Gunners fans are hoping the team can turn a new leaf next season after encouraging signs under Arteta.
But Groves believes to properly catch the likes of Liverpool and Manchester City, spending well in excess of a hundred million would be necessary.
"Arsenal need money spent in different areas, especially at centre-half and in central midfield," Groves told Talksport.
"I can see what Arteta is trying to do, I can see there's a plan, but at the moment he's dealing with six, seven, eight players he knows he doesn't really want, but, he's got to keep using them and be cute.
"We've got a lot of young players coming in, which is good, but watching the game against Liverpool it was survival football, let's be honest.
"There is a little bit of light at the end of the tunnel, but the finances, that squad probably needs £100m or £150m spent on it."
