Former Arsenal striker Alan Smith has warned the club to forget signing any significant names in the January transfer window.
Arsene Wenger signed four new players in the summer including Mesut Ozil from Real Madrid for a club record fee; an indication the Frenchman might be ready to loosen the purse strings after years of austerity.
The Arsenal hierarchy have pledged to back Wenger in the window should he require the funds to add to his squad, whose depth was exposed in the League Cup defeat to Chelsea on Tuesday where eight changes brought about a 2-0 defeat at the Emirates Stadium.
And Smith, who won five major trophies with Arsenal across an eight-year career in north London, told talkSPORT: "I don't know what will be out there. He [Wenger] has got the money to spend there is no doubt about that if the right player is out there, I couldn't tell you who the right player is, I'm sure he would.
"We know he was after a striker [in the summer]. [Luis] Suarez, [Wayne] Rooney and Gonzalo Higuain; they were chasing them all, but we know in January it's really difficult to get the right people. If they're still in the Champions League you want someone who qualifies for that.
"It's more of a question of the summer [when they buy]. He has a lot of money to spend and, if they have a good season and remain in that top four, they will be able to attract some good players."
The area requiring the most immediate surgery is in attack, where Olivier Giroud and Nicklas Bendtner represent the only senior options available to Arsenal.
Bendtner was entrusted with leading the line against Chelsea but produced another inadequate performance to leave his career in the Premier League, following a summer in which he attempted to force his way out on numerous occasions, in serious doubt.
With Giroud having taken on a heavy workload this season, Arsenal are in desperate need of additional resources given Bendtner's form.
"Arsenal, if they want to rest Giroud, haven't got a choice," Smith added. "They were unfortunate [against Chelsea] that in Podolski and Theo Walcott, who could do a shift through the middle if pressed, were injured.
"They had to rely on Nicklas Bendtner but unfortunately Bendtner is not good enough for that role. He is short of match action as well and you can see that in his fitness.
"Most Arsenal fans hoped he wouldn't pull on a shirt again and after last night's performance they'll be hoping that's the case. It was really difficult for him. There is too much onus on Giroud to lead the line."