Former Arsenal hero Ray Parlour is excited about their prospects going into the new season.
This summer, Arsenal's squad has been boosted by signings like Chile's World Cup forward Alexis Sanchez and France defender Mathieu Debuchy.
Parlour told Press Association Sport: "I think the bookmakers get it right a lot of the time and Chelsea and Manchester City are probably joint favourites.
"I think Manchester United will have a better season, and there's Liverpool as well. That league is such a tough league.
"In terms of who Arsenal have bought, I was sorry to see Bacary Sagna go as he was a good right-back, but Debuchy is in front of Sagna in the France side so that was a good replacement.
"I watched Sanchez in the World Cup and he is definitely a player who can excite the fans and is always involved.
"He got kicked a lot in the games and showed his mettle by getting up straight away and carrying on. So I think he would be perfect for the Premier League.
"If they can get one or two more in before the end of this transfer window, then they will have a good squad, and their players are at good ages, in midfield especially.
"Mesut Ozil, Aaron Ramsey, Jack Wilshere - all these top players are at a good age and they should be maturing every single year.
"I am really pleased they won a trophy last season - that was so important for Arsene Wenger.
"He knew the pressure, and for the players, that first trophy is always the hardest to win. Hopefully they can push on now.
"But if you look at all the squads, Man City and Chelsea are stronger.
"I'm hoping Arsenal can be up there. I'm always optimistic."
