A quick scan through Transfermarkt reveals that Inter spent £266m since they hired Conte. Arsenal have spent £220m in the same time frame. Last summer alone, they spent £95m. We spent £76m.
Money clearly isn't the issue. Sure, we don't have the resources to win titles. We can't match City, Chelsea, and ManU. However, we have spent more than Liverpool, Leicester, and Spurs in these past two seasons.
Liverpool have splashed £473m since Klopp's first summer at Liverpool. In the same period, we've spent £530m.
It's not like if we hired Conte, he'd demand that we outspend other clubs as Pep does or Jose used to do.
Recently, Conte came out and stated that money doesn't matter to him. He wants a project. He wants a club that has a solitary objective and wants to work in achieving that.
Expectations have never been this low since the arrival of Wenger. Even when we were a UCL club, top-4 was considered the bare minimum by fans. That was during a period when we couldn't spend at all.
Today, the goal in itself is top-4 even amongst fans.
If we hire a competent manager, such a manager would help us punch above our weight. You can give Arteta £600m to spend this summer; we acquire Haaland, Mbappe, Grealish, Hakami, Camavinga, etc. Say, we win the League. Sure, we'd love it. But what does that say about Arteta?
Mancini and Pellegrini won league titles with Man City. They're not considered elite managers.
But Mikel won't receive such fundings. That's why it's essential we have a manager who can overachieve. Is Arteta that guy? I'm not sure.
We have spent significantly since Wenger's departure. Where we have failed at—is hiring top class managers. A team with world class players and a decent manager will achieve something. A team with decent players and a world class manager will achieve something significantly more.
Now, I'm not averse to Arteta. If the objective is to fight for EL, be content there, he's not a bad option. Under such circumstances, giving him another season isn't far-fetched.
Nonetheless, if Arsenal aspires to revert back to the "successes" of 10/11 until 16/17, I feel Arteta isn't the guy to achieve that.