“I think he's [Rodgers] one of the best in the business," Merson told Sky Sports.
“If I was Arsenal, I would have been ringing Leicester up and saying, 'how much do you want?'.
“If you're going to pay £72million for a winger [Pepe] that hasn't played in the Premier League and has played in the French league, I would pay £40million for him tomorrow morning.
"I think them two teams will be looking at him.
“For me, if you're going to bring Brendan Rodgers in and what he's done with the teams he has been at like Swansea, Celtic, Liverpool and now Leicester, you give him a six-year plan and let him do what he wants to do.
"He improves players."