Arsenal legend Paul Merson has accused his former employers of putting profits before success and suggested the club's hierarchy is failing supporters by refusing to spend big money in the transfer market.
Merson, who won two league titles with Arsenal, has claimed that Arsene Wenger's class of 2016 are unlikely to end the club's long wait for success in either the Premier League or Champions League.
Wenger has not guided Arsenal to Premier League title since 2004 and has failed to win Europe's top prize over the course of his 20-year reign as manager -- losing out in the 2006 final to Barcelona.
"I don't think it looks any different this year to last. There is still something missing," Merson told ESPN FC, speaking at an event to promote a month of festive football on Sky Sports. "What is success at Arsenal at this stage? It seems to me that finishing fourth in the Premier League is considered to be success and that has been the story for far too long now.
"Success in the eyes of Wenger and the Arsenal board is putting another £30 million in the bank by qualifying for the Champions League every year. They don't think they are going to win the competition, they just want to be in it to make sure the cash rolls in.
"I don't know what they are trying to do. They have all this money in the bank and we go through every transfer window being told by the manager that there is no one to buy.
"It's not good enough. There are 60,000 people paying big money to watch that team play at Emirates Stadium every other week and most of them are paying around £70 to be there.
"Taking everything into account, they should be bringing in better quality players than they are, but it's just not happening."
However, after a good start to the season that sees them sit in second place after 14 games, Merson believes Arsenal's defensive improvements are a sign of encouragement and suggested they have learned from previous mistakes by showing caution in the latter stages of matches.
"The only compliment I can give them this season is when they are not playing well, they are not losing," Merson added. "Over the last four or five years when you watch Arsenal and they are not getting a result, they push more and more men forward until disaster happens.
"How many times have we seen Arsenal get a corner when they are pushing for a win. Everyone piles forward, it gets cleared and the opposition suddenly have a three-on-one break at the other end of the field. It happened far too often, but they have stopped that now.
"They have learned that points add up and on days when you are not at your best, you need to take your medicine and accept that not losing is not always a bad result.
"That said, draws will not win you the Premier League this season. In any other year, you might get away with some poor performances and some average results, but teams like Chelsea, Manchester City and Liverpool are winning a lot of football matches, so draws are no good.
"In my eyes, Arsenal will have big wins and great performances, often against teams that are not as good as them in the bottom half of the Premier League, but that doesn't win you titles. I don't see them winning the Premier League or Champions League this season. Nothing has changed for me."