Arsenal are equipped with a team that can challenge for the Premier League title after their transfer business in the summer, former midfielder Freddie Ljungberg has said.

Gunners boss Arsene Wenger strengthened his squad by signing the likes of Granit Xhaka, Shkodran Mustafi, Lucas Perez and Rob Holding, while Jack Wilshere and Calum Chambers were allowed to leave the Emirates Stadium on loan.

The North London club have won their last three league matches after an uncertain start to the season, which included a 4-3 home defeat against Liverpool and a goalless draw with Leicester City.

Ljungberg told Sky Sports his former club had the right ingredients to improve on their second-place finish in the Premier League last year.

"[Wenger's] shown he's a great manager and I think he's been restricted a bit on the financial side in the past," the ex-Sweden international said.

"They were second last year and this year hopefully we can win it.

"I think some people wanted some signings in the summer but everyone knows English clubs have a lot of money at the moment and if you ask for a player they raise the prices.

"He managed to get the players in the end."

Arsene Wenger
Arsene Wenger, 66, has led Arsenal to three Premier League titlesGetty Images

Ljungberg paid tribute to Wenger's longevity at Arsenal, with the Frenchman completing 20 years at the club this week.

"For Arsene to have been there for that long is a great achievement," he said. "And he's been through lots of different parts of the club's development too.

"He took them from Highbury, built a great side, then took them to the new stadium where they weren't able to spend as much on players but still kept them in the Champions League and now they're maybe getting the players he wants again.

"He never went to the media to moan about the budget and I think that shows you what a great man he is."

Wenger will hope his team can make it four wins on the trot when they face Chelsea at the Emirates Stadium on 24 September.