The Gunners boss has been notoriously reluctant to splash the cash despite the club’s strong finances.

But now former Arsenal vice-chairman David Dein, Wenger’s best friend in football, says the Frenchman knows it is time to spend — and spend BIG.

Dein said: “The fact is he has to strengthen the team and I know he will do that.

“He is one of the best managers in the world, he’s been coaching for 30 years and knows what he is doing.

“He knows what he wants and it’s just a question of identifying the right talent.”

Arsenal’s last silverware was the 2005 FA Cup, when they beat Manchester United on penalties.

But while United, Chelsea and Manchester City have invested heavily in their squads, Arsenal have been lagging behind.

Dein, though, insists Wenger is still the man to lead Arsenal to more glory, having secured Champions League football in each of his 17 years at the club.

Dein, who brought Wenger to England in 1996, told 5Live Breakfast: “It’s a long, hard season and I am a great supporter of Arsene.

“He has done a phenomenal job and continues to do so year-on-year.

“He has the fire in his belly. I don’t see any reason why he shouldn’t be there.”

But Dein knows Wenger will have his work cut out against the two Manchester clubs next season, based on this term.

He said: “Arsene’s on course for next season’s Champions League. But they have fallen 20-odd points behind United, which is not good enough.”