The 46 year old Former French international and the Former Arsenal player believe that the Arsenal team is suffering because of poor recruitment, though they have the required fund.
Emmanuel Petit slams the Gunners transfer policy as he thinks this season the Gunners panic buy some players.
In the Frenchman Arsene Wenger’s reign, a close eye has been kept on the Arsenal’s bank balance.
This season the Arsenal team has loosened the purse strings on many purposes in the recent years, and those are earned have not always delivered.
A Huge amount of money spend over Swiss midfielder Granit Xhaka and German defender Shkodran Mustafi at the beginning of the season but the former Arsenal player believes that those deal rush in without consideration.
Petit who won the FA cup and English premier league with the Arsenal said: The reason why Arsenal are not at the top of the league and fighting for the big titles is because half of the team is not good enough to play for Arsenal. It’s as simple as that.
“Arsene Wenger has to change his policy. They’ve got the money now in the bank, they’ve got a lot of money.
“I spoke with Mr Dein two weeks ago. They’ve got a lot of money in the bank, they’re rich. Financially they have no problem, they paid back the loan for the Emirates Stadium.
“They spent £30-£40m on players like Mustafi, Xhaka for example. They didn’t do that in a good way, they did it in panic.”
Petit thinks while on recruitment: "What Arsenal have been doing in the transfer market for me I have not been impressed a lot.
"The recent two or three years you know, I think they need to change that.
"Lastsummer for example, I have been very disappointed by the fight, it's like they were signing very quickly the last few days before the end of the market.
"Top clubs you analyse very precisely what you need about six months of a year before the end of the season.
"So I think Arsenal have to react in a better way in the transfer market and they have to change the salary cap.
"They cannot compete with the biggest clubs in Europe if they don't change that because on top of that Arsenal haven't won trophies, big trophies for so many years.
"If you don't improve those two things I think it will be very difficult to bring big players to Arsenal."