MADRID (AP) – Wenger has come under pressure from Gunners fans following a difficult start to the season, which has seen Arsenal pick up one point from their opening two Premier League fixtures.
With Cesc Fabregas having left for Barcelona and the future of Samir Nasri also up in the air, Wenger has plenty to ponder at present. England boss Fabio Capello, though, knows it is not an easy situation for the Frenchman.
Asked if he thought Wenger should continue at Arsenal, Capello said on Sky Sports' Goals on Sunday programme: "I hope he will stay on, I have a good relationship with him, he's a really good manager, but it's not a good moment, it's difficult after six years without a trophy for such an important club like Arsenal.
"I think he needs to buy some new players, some important players, but it's difficult to find top players at this moment, because the best players are playing with important teams, teams who want to win.
"I think Arsenal have got money but it's difficult to find top players to improve the team. Because if you spend the money buying normal players, it's not good, you need to spend money to improve the team."
Speaking on the same programme, the FA's director of football development Sir Trevor Brooking also believes Wenger is in a tough position, especially with regards to Nasri, who is out of contract next summer.
Brooking, who felt Nasri was "fantastic" during the first half of last season, added, "at the start of the summer, if you'd have said Fabregas or Nasri I'd say keep Nasri, although that's easy for me to say.
"If [Nasri] has one year to go and you're going to let him go for nothing next summer, and if you can get £20million for him now, that's a decision but then you've got to try and bring in the same quality of player.
"That's the thing that Fabio was saying and Arsene has said, 'I've got money but don't want to spend it on an average player that's not going to improve the squad', because then he will be criticised for buying in when he hasn't improved the team.
"So he wants the quality but, as Fabio said, there's not a lot of quality left now because everyone is with the better sides at this stage of the summer."
Former Arsenal boss George Graham has also urged Wenger to hit the transfer market and make three big-name signings before the window closes at the end of the month.
"They need experienced, outstanding players and I think they need about another three in the side at the present time," Graham told Radio Five Live's Sportsweek programme.
"They've got the money, let's sit down, get some of these players in he's supposed to be after and let's see if they can start winning trophies again."
The Scot, who led Arsenal to two league titles, claimed it would be "a struggle" for Arsenal to finish in the top four this term.
"They have big signs at the club saying 'Arsene knows'. Well I hope he does," added Graham. "I think he's going to be there this season. I think he's under a little bit of pressure just now from the fans.
"But I think Arsene, if he sits down and is honest with himself, he'll put it all back together again. But he needs to do some hard thinking.
"Please get the the cheque book out Arsene. I think they need another centre-half, I think they still need a strong, outstanding, experienced midfield and I still think they need an out-and-out striker like a (Thierry) Henry."