Stan Kroenke has been urged to splash the cash if they are serious about taking Arsenal to the next level.
The Gunners have reached a new low after failing to make the European places at the end of the season.
It is the first time that has happened to them in 25 seasons and changes will need to be made to their squad.
They made Mikel Arteta their manager in 2019 and the Spaniard has continued to receive their backing to remain at the helm.
The club’s owners want to return it to its glory days when they won the Premier League and reached the final of the Champions League.
There is, however, too much of a gap between them and the other top Premier League teams at the moment.
The likes of Manchester City, Manchester United and Liverpool have left the Gunners behind in becoming England’s biggest teams.
Sam Blitz for Mailonline highlighted some changes that Arsenal needs to make and one of them, he says, is giving Arteta the backing he needs.
He writes: “With Arsenal now out of Europe, the first big decision faced by the Kroenkes is the future of head coach Arteta. The early noises appear to be a vote of confidence in the young manager, despite a disappointing campaign.
“The 39-year-old has now had 18 months in the Arsenal hotseat and while there are some minor positives – a better points tally compared to last year and a Europa League semi-final – the gap between the Gunners and the top four is still large.
“To bridge the gap between Arsenal and England’s elite, the Kroenkes must provide Arteta and technical director Edu with funds to make multiple marquee signings.
“Over the past couple of seasons, the Gunners have been able to make one significant investment in the transfer window. Nicolas Pepe moved for £72million in 2019 and is finally starting to show some promise in a Gunners shirt, while £45m midfielder Thomas Partey was last summer’s major buy.
“Making one major signing has not been enough for Arsenal to make their way back into the top four in recent years, so there must be a significant cash injection from Arsenal’s American owners to fund moves.
“When Arsene Wenger left the club in 2018, Gunners chief executive Vinai Venkatesham announced the Gunners would act on a self-sustaining model, with off-the-field revenues funding the on-pitch investments.
“But the lack of European football severely damages that business model, and the trust between the hierarchy and the Gunners faithful is strained due to the Kroenkes’ lack of activity within the club during their decade in the boardroom.
“A busy summer transfer window would restore that trust for the time being, especially after a tumultuous year.”