Wright firmly believes the Frenchman is still the right man for the job to end the club's eight-year trophy drought.
The Gunners legend told The Sun: "I'm delighted as my only argument with Arsenal has been we've not replenished the squad with the kind of quality players required to challenge for the Premier League.
"I get a lot of people on Twitter saying that I'm constantly slating the club, but I don't do that.
"However, I won't sit by when I know what is expected in terms of winning something. You expect to win something at that club - the fans do, the players should do - and I think we've lost sight of that in the last eight years.
"We've had a manager who has been great for us and now he's finally realised that in order to compete, he has to spend the money.
"Now that Wenger has said he wants to buy big, I wouldn't want anyone else rather than him doing it."