"If Cabaye was that important to Arsenal I think they'd have bought him by now. It feels to me like a panic," he said on Monday Night Football.
"If Arsene Wenger was that impressed and wanted Cabaye that much, why not buy him two months ago? What are you waiting for?
"It feels like a couple of years ago when they brought Mikel Arteta, Per Mertesacker and (Andre) Santos in late. Santos has been a disaster for them and Mertesacker is not for me, though Arteta's done ok. When you start panicking with transfers towards the end you obviously don't get what you want.