The Gunners legend believes that Frenchman Wenger is not being treated harshly enough for the teams recent form and lack of silverware in past years but he also sympathises as he feels there is not enough cash being spent on players at the Emirates Stadium.
Wright also believes that Wenger is not honest enough when speaking about the clubs current situation.
"I wouldn't say 'surely he has to go', but it is a unique position he's in because I think any manager in any country in any world with a record like this and no prospects of light at the end of the tunnel, they would've been gone," he told Absolute Radio.
"People are holding onto the fact to what Arsene has done, and people are saying he is going to tarnish what he has done, but I don't think that will ever happen.
"I feel there are a lot of deluded Arsenal fans who are out in the wilderness still saying 'in Arsene we trust' and stuff like that.
"You hear him doing interviews afterwards saying, 'I have got a great team with a great spirit', but we are not seeing that.
"He does not tell the truth for me, he does not say what is happening. What is going on? Have you got any money to spend or haven't you? Is it the fact the board are giving you the money and you are not spending?
"Is that too hard a question to answer for Arsenal?"