Olivier Giroud claims that Arsenal's limited spending power compared to their rivals will prevent Mikel Arteta from making Arsenal a top-four side.
The Gunners spent almost £150million in the summer transfer window as the likes of Ben White, Martin Odegaard and Takehiro Tomiyasu arrived at the club.
Arsenal finished outside the European places for the first time in 25 years last season and Arteta hopes that his reinforcements will help the club make an instant response.
It was a rocky start for the north London outfit with three defeats in a row to open their Premier League campaign, but they have turned things around amid a four-game unbeaten run.
Could Arsenal become a top-four side under Mikel Arteta? Comment below
Former Arsenal striker Giroud reckons Arteta will be given time to get them back into the top four, but admits it's a tall order as the Gunners don't spend as much money compared to the likes of Chelsea, Manchester City and Manchester United.
Asked how long it will be until Arsenal finish in the top four again, Giroud told talkSPORT: "Wow, that’s a good question! I think Mikel Arteta has got time to come back in the top four.
"But sometimes the problem is that money plays a huge part in success also.
"When you see Chelsea after winning the Champions League spend over £80million (£97.5m) on Romelu Lukaku to reinforce the forward line and after spending a lot of millions the year before, I think money plays a huge part.
"That’s the thing with Arsenal. Maybe they don’t put as much in as their opponents."
Giroud joined AC Milan in the summer as he left Chelsea to find regular playing time.
And the Frenchman admitted he found his Stamford Bridge exit even more difficult than when he departed the Emirates.
He added: "I spent three seasons-and-a-half there [at Chelsea].
"I had an amazing time at Arsenal but [at Chelsea] I can say even more because I won the big titles.
"It was emotionally difficult to leave when I left Montpellier and Arsenal, but even more tough [at Chelsea] because I didn’t play the last three months so it was evidence for me to leave and go for another challenge.
"I felt frustrated a little bit to not play the last three months because I contributed well to the Champions League success by finishing top scorer for the team.
"But what can I say? We were so successful and I am so pleased with the FA Cup, Europa League and Champions League. I scored a few important goals.
"It was tough to leave Chelsea and the Premier League but at the end of the day I think it was the best solution for me."
