Pat Rice believes there will be more big money signing made by Arsene Wenger because his former boss isn't afraid of splashing out on the right players.
Wenger broke Arsenal's transfer record with the £42.5m signing of Mesut Ozil on the final day of last summer's transfer window and Rice believes others of the German's quality and calibre will be following him through the doors of the Emirates Stadium.
The former Arsenal assistant manager told talkSPORT:
"I don't think Arsene Wenger is frightened of spending money. He's proven that with the signing of Ozil.
"So I honestly don't think it's that.
"First of all he's got to be fully convinced the player that he want is good enough to come into the side and not disturb any kind of working relationships he has with the side itself.
"As you can see from some of the buys other clubs have made is not always the actual case, they go for the name and people put them under pressure and they bow to it."Rice witnessed first hand from the White Hart Lane directors' box Arsenal's third north London derby win of the season. It moved the Gunners into third place on 62 points, four points behind leaders Chelsea, who they face tomorrow lunchtime, with a game in hand.
Rice, who made 528 appearances across 14 seasons for the Gunners and then rejoined the north London giants after four years at Watford first as Youth Team Coach and then as Wenger's assistant, believes Arsenal still have a shot at the title.
"I think it will be hard. I think it will be very hard. There are still hard games left to go and play.
"But knowing Arsene he will look on the positive side of it and say 'listen we'll go and give it our best shot and see where we go from there'. The same as Chelsea will do, and Liverpool will do and Manchester City will do.
"From those four top side, because City have got to come to the Emirates, so you don't know what the result will be there. You don't know what the result will be tomorrow. You've just got to see how it all pans out."