Graham says Wenger's transfers just haven't been good enough.
"The quality of the players that are coming into the club are nowhere near the quality of the players leaving the club.
"I don't care how good a coach or manager you are, you need the quality players on the pitch, and the last few years the players coming in are just not up to it.
He was the one that brought the outstanding players in at the beginning of his reign at Arsenal for very reasonable prices, sold the majority of them, and made a lot of money for Arsenal in the transfer market. He was outstanding. But what has happened since then? He's got to look at himself."