Mesut Ozil
Ozil the bargain buy of the summer, says former Gunner Petit. (Reuters)

Emmanuel Petit believes Arsenal landed the 'bargain buy' of the summer in the record signing of Mesut Ozil.

The Gunners secured the services of the Germany international for a fee of £42.5m from Real Madrid on transfer deadline day and the playmaker's arrival has arguably been the catalyst behind the club's remarkable start to the season.

Petit, who won a Premier League and FA Cup double in 1998 with the Gunners during his three years in north London, sees little issue with the transfer fee itself and is confident Arsenal will look back upon the deal as a bargain as the 24-year-old continues to exhilarate at the Emirates.

"There was a lot of pessimism around Arsenal at the start when they were beaten by Aston Villa in their first match," Petit told the Mirror.

"But they have recovered well since then and Ozil has been magnificent. He cost a lot of money but was the best bargain of the window."

After losing their opening game to Aston Villa, Arsene Wenger's side went on to win their next five league games before a 1-1 draw away to West Brom halted their winning streak which lasted 10 games in all competitions.

The Gunners' irresistible start has led many to suggest that this could be the season where they bring an end to their trophy-less run which stretches back to 2005.

While Petit has urged caution with a testing schedule ahead of the club, the former France international believes all signs point towards a fruitful campaign.

"They have to face some big tests in the months to come in the Premier League. They still have to face Chelsea, Manchester City, Liverpool and Manchester United. They will be big tests. And there is now the international break.

"It can be difficult to keep the same momentum you had before the break.

"But I have to say that so far they have been tremendous and playing some excellent football - football that is great to watch and some of the best in Europe.

"And the arrival of Ozil is a positive sign for the fans. It looks now as though the club are bringing in the top players rather than selling them.

"With Aaron Ramsey looking back at his best after a bad injury, the signs are good.

"This could well be the season when they win a major trophy after a long wait."