Arsenal need to spend ‘around £500m’ as Paul Merson says club are ‘a million miles’ from what they once were

Paul Merson says Arsenal are £500million and a ‘million miles’ away from reaching their former heights.

Seemingly one of the final nails in Arsene Wenger’s coffin was hammered home by Manchester City on Thursday night as the Premier League leaders picked off the Gunners in front of a half-empty and rightful agitated Emirates crowd.

Players reportedly met in the days leading up to their Premier League clash to discuss the club’s drift in recent years, with calls for Wenger’s departure intensifying by the day.

And Merson says the club could require a four-year overhaul to return to their former glory.

“Arsenal are a million miles away,” Merson told Sky Sports.

“This is a four-year project now, a four-year project and about £500m to get anywhere near back to where they were.

“You’re going to get a Man United situation when Sir Alex Ferguson left.

“The next manager will come in, it won’t work out, they’ll get rid of him within a year. Then another manager will come in.

“Things can’t get any worse to be honest. They’re sixth and that’s where they’re going to be.

“Surely it couldn’t get worse than that. I look at the other teams and no one is going to catch them, I don’t see anybody else coming above Arsenal in sixth.

“But this is Arsenal Football Club and they’re becoming an also-run, an also-run.”

Merson went on to compare his former club to Everton, claiming they’re becoming the best of the rest in the Premier League.

“They’re Everton, they’re Everton,” he added. “We’ve had this with Everton for the last 15 years.

“They’re the next best team out of the top six, they’re not going to get any better, and this is what’s happening with Arsenal."