Former Arsenal striker Alan Smith claims the club can win the Premier League title without spending in the January transfer window.
The Gunners returned to the top with a 2-1 win over Aston Villa on Monday but Manchester City and Chelsea are both within sight of Arsene Wenger's men.
Some have questioned Arsenal's strength in depth over the course of the season, and with Theo Walcott rupturing his anterior cruciate knee ligaments and effectively ending his season there has been a push for Wenger to re-enter the transfer market.
But Smith believes that their performances over the first half of the season justify the manager staying quiet over what is a typically difficult month to find decent talent at the right price.
When asked by Talksport if he thinks the current crop at the Emirates can win the title, Smith replied: "I think so.
"We all look at Man City and Chelsea as the teams to beat, but Arsenal are top of the tree in mid-January so why shouldn't they [win it]?
"They have strength in depth in most areas of the pitch. The only position you worry about is up front where Giroud is on his own.
"They've got a good squad, though. Arsenal will gain belief as the season goes on and they're near the top of the table. There's no reason not to think they can stay the course this year. "
Arsenal have a busy schedule coming up with Premier League matches against Fulham, Southampton and Crystal Palace while they play Coventry City in the fourth round of the FA Cup.
The side will be hoping to stay firm at the top of the table with the business end of the season rolling around which includes the Champions League round of 16 meeting with Bayern Munich.