Former Arsenal goal machine Ian Wright has welcomed Alisher Usmanov's takeover bid to buy out Stan Kroenke's majority share of Arsenal.

The American has recently rejected a £1.3bn bid from Usmanov, and reports suggest he does not plan on selling at all.

Wright, who scored 112 goals in 205 appearances for the Gunners, believes it's time for an owner that is willing to invest the same amount of money as Arsenal's Premier League rivals.

"He has put in the bid and it is great news," Wright told BBC Radio 5 live.

"Something has to change, whether it is the manager Arsene Wenger or whether it is the board upstairs."

"Where are they going to sign players from? Who is going to want to come to Arsenal instead of anywhere else in London? At the moment, they are not an attractive proposition.

"Something has got to happen for Arsenal to go to that next level. This bid will galvanise the fans."