Arsenal have been told to splash the cash this summer to help challenge for the Premier League title again.
The Gunners sit tenth in the tables ahead of Sunday's North London Derby showdown with Tottenham Hotspur - a whopping 30 points behind leaders Manchester City.
Arteta has an uphill task on his hands to get Arsenalchallenging towards the top of the table again, with former manager George Graham insisting money must be spent.
Graham told owner Stan Kroenke he needed to sanction £300million worth of new players in an interview with the Express.
He said: "Arsenal have outstanding young players, but they need help. Quality players around them to show them the way. They need to go out and buy two or three players, each costing £75million to £100million."
So with that in mind, we've outlined the three players Mikel Arteta should sign this summer were he to be given £300million to spend by the Arsenal owner.
Creative midfielder - Jack Grealish
Arsenal have been in the market for a new creative midfielder for some time.
Houssem Aouar was heavily linked with a move during the last summer transfer window, but the Gunners plumped for the more defensive minded Thomas Partey for £45million instead.
Mesut Ozil's omission from the Arsenal squad has left a gaping hole for a creative midfielder and one player who has been consistently linked recently has been Jack Grealish, following another supreme season with Aston Villa.
Grealish is Villa's best player by some distance and is likely to become an England regular under Gareth Southgate too.
With six goals and 10 assists so far this season, he is valued at around £100million by Villa and would be one hell of a signing for Mikel Arteta.
Right-back - Achraf Hakimi
Arsenal will surely be looking for more defensive reinforcements during the summer transfer window and Arteta has outlined full-back as areas for strengthening.
There remain question marks over Hector Bellerin's future, with Barcelona interested in signing the Spaniard.
And even without him leaving, Arteta would be keen to add to his squad.
Achraf Hakimi is a player who has been touted for a move to the Emirates Stadium, following a fine season in Serie A with Inter Milan. And not only can he play right-back, but left-back too, which would add competition for Kieran Tierney.
He has six goals and four assists so far this season and is valued at £97.6million by the CIES Football Observatory.
Striker - Lautaro Martinez or Dominic Calvert-Lewin
With Alexandre Lacazette tipped with a move away and Eddie Nketiah seemingly not trusted, Pierre-Emerick Aubameyang could be the only recognised first team striker at the club next season.
And given Arteta's penchant for moving the Gabon international out wide left, there is a position open for a new striker to come in this summer.
Arsenal have a real homegrown issue, with spaces needed to be filled by talent from these shores, which could mean a move for someone like Everton's Dominic Calvert-Lewin would be the way to go.
The Englishman has impressed once more under Carlo Ancelotti this season, with 18 goals in 31 games for Everton.
However, if Lacazette were to leave, the Gunners could bring another foreign player in and who better than another Inter player in Lautaro Martinez?
The Argentinian has 15 goals this season in 36 games, so not as good a record as Calvert-Lewin, but did notch 24 goals in 49 appearances last season too.
Calvert-Lewin is valued at £66.7million by CIES, with Martinez priced up at £90.5million.
