Arsenal legend Ian Wright says manager Arsene Wenger needs to spend "crazy money" before the market shuts.

Arsenal remain keen to bring in both a centre-back – Valencia's Shkodran Mustafi being their primary target – and a striker before the transfer window closes.

Wright wrote his Sun column: “I understand Arsene Wenger is a man of principles, who refuses to pay massive fees for players he thinks are over-priced. Yet with the cash in the Premier League now, you have to splash crazy money to get your man, like it or not.

“But with Arsenal it always seems to be about missed opportunities. Like when they made that derisory £40m and £1 offer to Liverpool for Luis Suarez.

“If they'd made a genuine effort to get him, I'm sure he would have brought them the title. If it hadn't been for dodgy defending, he'd have done it for the Reds.

“They were linked with Gonzalo Higuain for years but now he's gone to Juventus for £75m at nearly 29.

“That's the price you have to pay for people who can do the business. I can't imagine what Suarez would be worth now, so they wouldn't have lost money on him."