Emmanuel Petit has urged Mikel Arteta to conduct a summer clear-out at Arsenal this summer.
The Gunners suffered a 3-0 defeat by Liverpool at the weekend and now sit 10th in the Premier League table.
They are outside the bottom half on goal difference alone and are also out of the FA Cup and the League Cup.
Arsenal face Slavia Prague in the quarter-finals of the Europa League on Thursday, and a failure to win that competition would make this a disappointing season for the north London club.
Arteta retains the backing of most Arsenal supporters, and Petit also believes he is the right man for the job.
But the former midfielder, who won a Premier League title and an FA Cup at Highbury, thinks Arteta must revamp his squad ahead of next term.
"For me, the biggest mistake they have made in the last few years is their ridiculous transfer activity," Petit told Ladbrokes.
"OK, it’s a question of money and they don’t have the same finances as Manchester United and Manchester City, but they’re not far behind those clubs.
"They still have the power to get big players in. But the way they’ve spent money in the last six or seven years… who is directing that? I’m just asking that question: who is in charge of these decisions? Does the manager have a say, is it his responsibility? Or is it someone on the board?
"I don’t understand the profile of players they’ve brought in – especially in defence.
"I try not to get emotional anymore when I look at Arsenal. I try to step back and put away my emotions. I try and look at them like a normal team. I have to tell myself 'don’t expect anything special from them today.' This is the way I am now."
“When I look at the older players in the team, it’s like they think it’s a retreat football club, somewhere you just go for a vacation.
“They have ambition, but I don’t really expect them to win big games anymore.
"If you took away the name ‘Arsenal’ and looked at that group of players… average.
"At the end of the season, if I’m Arsenal, if I’m Arteta, if I’m on the board, to be honest with you, I think my main concern is getting half of the dressing room out. Honestly.
"The question is simple; how many Arsenal players would you look at and say ‘they’re one of the best in the league in that position’?"
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