Arsenal legend Martin Keown claims his former club are in a “big moment” and have “key decisions” to make over the future of two stars.
The Gunners recently announced their first financial loss since 2002 as the club feel the cost of their absence from Champions League football.
With an uphill task to secure a place in the Champions League, there is uncertainty surrounding the long-term futures of Pierre-Emerick Aubameyang and Alexandre Lacazette.
And Keown claims the club must examine what funds they can make available to new manager Mikel Arteta to begin shaping a squad of his own.
Keown, speaking as an ambassador for the FA and McDonald’s Grassroot Football Awards, told StarSport: “There’s been some financial losses just been announced, so the key thing is decisions to be made around Aubameyang, Lacazette, what funds have the club got available?
“It’s a really big time in the history of the football club. We’re at a big moment here. They still can get back into the Champions League, it’s not over yet, but it’s going to be an outside task for them.
“There’s still plenty to play for, then of course in the summer it becomes we really learn what Arteta has learned from his team in terms of the players he wants to keep and the areas he wants to strengthen in.
“It doesn’t matter what I think, it matters what Arteta thinks. Everybody is getting a chance so there won’t be a single player who can say ‘look, I haven’t got any minutes’.
“He’s played most of the midfield. Ceballos, Torreira has probably had the least minutes out of anyone, he’s brought Xhaka back into the fold, Guendouzi has had plenty of minutes.
“Mustafi was out in the cold, he’s brought him back in, I think he showed a lot of character to do that.
“Whether or not they are still a part of the future, only Arteta will be able to explain that one in the summer.”