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Emmanuel Petit believes Arsenal are on the verge of a new exciting era at the club – and have landed “the bargain buy” of the transfer window.

Being branded a snip at £42.5million may not happen too often to Mesut Ozil but such is Petit’s admiration for the Germany star that the club record deal is undoubtedly money well spent.

Petit – a Premier League and FA Cup double winner at the club in 1998 – has been hugely impressed by Ozil.

The former France hero also admires the contribution of Mathieu Flamini who has added steel to central midfield and was signed on a free transfer.

“There was a lot of pessimism around Arsenal at the start when they were beaten by Aston Villa in their first match,” said Petit, who won both the World Cup and ­European Championships with France.

“But they have recovered well since then and Ozil has been ­magnificent. He cost a lot of money but was the best bargain in the window.

“And Flamini has given the team ­something they lacked.”

Arsenal went into the international break as league leaders but Petit has urged caution.

“They have to face some big tests in the months to come in the Premier League,” he said. “They still have to face Chelsea, Manchester City, Liverpool and Manchester United. They will be big tests. And there is now the ­international break.

“It can sometimes be difficult to keep the same momentum you had before the break.

“But I have to say that so far they have been tremendous and playing some excellent ­football – football that is great to watch and some of the best in Europe.

“And the arrival of Ozil is a positive sign for the fans. It looks now as though the club are bringing in the top players rather than selling them .

“With Aaron Ramsey looking back at his best after a bad injury, the signs are good.

“This could well be the season when they win a major trophy after a long wait.

(Image: Getty)

“The young guns at the club will look up to the likes of Ozil and get confidence from being alongside him.

“Arsenal are now playing the way they used to. But we have yet to see how they cope with the major sides in the Premier League.”

Arsenal’s ­Champions League campaign has also started with two wins – at Marseille and at home to Napoli.

“And they have played well, there is no doubt about that,” said Petit.

“But the group stage does not mean a lot when you are looking for potential winners of the trophy. It is from the next round that you face the real challenge.

“That is when you meet the really good sides, the top teams in Europe. It will be more difficult from then on.

“Bayern Munich and Barcelona will be as strong as ever but Arsenal did win 3-1 in Munich last season so that will give them ­confidence.

“This could be an exciting time for Arsenal.

“The atmosphere around the club seems better and I feel they could win a major honour this season if they can come through the ­difficult matches ahead.”