Alan Shearer believes is still the right manager to lead - but warned this campaign has been a poor one. Arteta, 43, was helpless on Wednesday night to complete a 3-1 aggregate scoreline in the Champions League semi-final.
The Champions League was Arsenal's last hope of silverware this season, having fallen way short in this year's title race. It consigned the north Londoners to a third consecutive disappointing climax, which has seen them finish second to on two occasions and now this season.
After their exit from the competition, there were some rumours that the ex-City assistant manager was under pressure at the Emirates Stadium. However, Shearer believes the former Arsenal skipper's position should not be in peril, stating he can still be the man to bring trophies back to north London.
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While speaking to , Shearer said: "If Arsenal get a striker in, I do think Arteta is the man to get them over the line. I haven't changed my opinion from the start of the season.
"I said that if they were to get a top striker then I believe they'd be challenging for everything. I do think that if they can rectify that problem then yes Arteta can do.
"But it's been a poor season because of their very high standards. They want and have to win things.
"I know they won the FA Cup five years ago, but for Arsenal, they were second best in the Champions League, Carabao Cup and the Premier League so it doesn't take a genius to work out what they need to do.
"I'd think Arsenal need to sign two or three big-hitters and a striker definitely needs to be at the top of their list. That has to happen for Arsenal to reach the next level and win the Champions League or Premier League.
"The problem they've got now is that there are so many other clubs looking for strikers now as well. They'll be in a really congested market. Liverpool, Man United and Chelsea will all need a striker, so Arsenal will be in a congested market.”
While Arsenal's season hasn't finished how fans would've liked, many will point to the long-term injuries of Bukayo Saka, Gabriel Jesus, Gabriel Magalhaes, Kai Havertz and others as an explanation behind their struggles. The Gunners had their moments against PSG, but could not find a way past Ginaluigi Donnarumma.
Arteta will need to refocus his side, who are in danger of being dragged into a race for the top five. They still occupy second position, but with a trip to Anfield to face champions Liverpool, and Newcastle United at home up next, their place in next season's Champions League is not yet secure.
Pep Guardiola's Manchester City have also crept up on Arteta's side and are now only three points behind with a better goal difference having won their last four Premier League games in a row. Chelsea are also only four points behind, due to a recent winning run which has seen them overcome Fulham, Everton and Liverpool.
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