The Gunners look a shadow of the team that they were during previous seasons and are currently 13 points adrift of the Champions League places on the Premier League standings.
In addition to this, Burnley who have been one of the surprise packages this season, are only five points behind in seventh place and Wright believes that Sean Dyche's men will usurp Arsenal before the end of the season.
The two clubs face off during the penultimate game of this season in what could be a decider as to who will finish higher in the League this season.
"Of course you can see that happening. If Arsenal can go on and win the Europa League then it is not going to be a problem for me.
"I can see it happening because of the way the guys are performing at the minute. You can't see them actually beating a team at the moment which is actually organised and very infused and intensified."