Sol Campbell has urged Arsene Wenger to spend big on players who will “frighten” teams if Arsenal are to challenge regularly for the Premier League.

The former Arsenal title winner believes the Gunners might have pushed Liverpool, Manchester City and Chelsea closer this season had their squad not been hit by injuries.

Campbell believes Arsenal need to invest heavily in three new recruits to be competitive at the top of the table next year. Wenger is expected to have an enhanced transfer budget over the summer and Campbell said: “The board might have to put their head on the block, go for it and not be scared.

“You have got to get to the stage where teams are frightened of you. You need options and Arsenal could do with more players who could frighten other teams. You need that cutting edge in your side.

“You can find players through scouting around the world but ultimately these players are ready-made and you have got to pay top dollar to get them in. Arsenal need some more world-class players.”

Campbell, who won two Premier League titles at Arsenal, is working towards gaining his coaching badges but the former England defender says he is not ready to go into management yet.

Arsene Wenger's best Arsenal XI 11 show all Arsene Wenger's best Arsenal XI 1/11 David Seaman The England stopper was a huge reassuring presence between the posts. Wenger has always struggled to find another keeper to match 'Safe Hands'. 2/11 Bacary Sagna His time at Arsenal may have coincided with a barren run in terms of trophies, but since 2007 the France international has been a constant and strong presence in a defence which has chopped and changed around him. 3/11 Sol Campbell Joined on a free transfer from Tottenham in 2001 and his arrival coincided with the most trophy-laden spell of the Wenger era. 4/11 Tony Adams Was suspicious of Wenger when the Frenchman arrived with his new-fangled ideas, but swiftly became a convert. Enjoyed a glorious Indian summer of a career with a league and FA Cup double in 1998. 5/11 Ashley Cole Hated by Gunners fans now after he moved to Chelsea, but Cole was widely considered to be the best left-back in the world during the first decade of the Millennium. 6/11 Robert Pires Dynamic and direct French winger who more than filled the boots of Marc Overmars. Became a firm favourite with Gunners fans. 7/11 Patrick Vieira Wenger had spotted his potential as a teenager and made the Frenchman his first signing. Vieira developed into a legendary player for club and country, captaining the 'Invincibles' in the unbeaten 2004 Premier League campaign. 8/11 Cesc Fabregas Hugely-gifted midfielder who carried much of the burden after the break-up of the Invincibles side before the Gunners reluctantly sold him back to boyhood club Barcelona in August 2011. 9/11 Freddie Ljungberg Skilful Swedish winger with an eye for goal who could play on both flanks and was the perfect counter-balance to Pires. Fitted into the Wenger system with stylish ease. 10/11 Dennis Bergkamp What a player for Wenger to inherit. The Dutchman had flopped in Italy despite great expectations when he was brought in by Bruce Rioch, but he came good under Wenger. Is now remembered as one of the greats for both Arsenal and Holland, having been immortalised with a bronze statue outside the Emirates Stadium. 11/11 Thierry Henry Faced with the retirement of Ian Wright and departure of Nicolas Anelka, Wenger turned to Henry, at the time playing on the wing for Juventus. The France forward developed into one of the best strikers in Europe, and became the Gunners' record goalscorer. 1/11 David Seaman The England stopper was a huge reassuring presence between the posts. Wenger has always struggled to find another keeper to match 'Safe Hands'. 2/11 Bacary Sagna His time at Arsenal may have coincided with a barren run in terms of trophies, but since 2007 the France international has been a constant and strong presence in a defence which has chopped and changed around him. 3/11 Sol Campbell Joined on a free transfer from Tottenham in 2001 and his arrival coincided with the most trophy-laden spell of the Wenger era. 4/11 Tony Adams Was suspicious of Wenger when the Frenchman arrived with his new-fangled ideas, but swiftly became a convert. Enjoyed a glorious Indian summer of a career with a league and FA Cup double in 1998. 5/11 Ashley Cole Hated by Gunners fans now after he moved to Chelsea, but Cole was widely considered to be the best left-back in the world during the first decade of the Millennium. 6/11 Robert Pires Dynamic and direct French winger who more than filled the boots of Marc Overmars. Became a firm favourite with Gunners fans. 7/11 Patrick Vieira Wenger had spotted his potential as a teenager and made the Frenchman his first signing. Vieira developed into a legendary player for club and country, captaining the 'Invincibles' in the unbeaten 2004 Premier League campaign. 8/11 Cesc Fabregas Hugely-gifted midfielder who carried much of the burden after the break-up of the Invincibles side before the Gunners reluctantly sold him back to boyhood club Barcelona in August 2011. 9/11 Freddie Ljungberg Skilful Swedish winger with an eye for goal who could play on both flanks and was the perfect counter-balance to Pires. Fitted into the Wenger system with stylish ease. 10/11 Dennis Bergkamp What a player for Wenger to inherit. The Dutchman had flopped in Italy despite great expectations when he was brought in by Bruce Rioch, but he came good under Wenger. Is now remembered as one of the greats for both Arsenal and Holland, having been immortalised with a bronze statue outside the Emirates Stadium. 11/11 Thierry Henry Faced with the retirement of Ian Wright and departure of Nicolas Anelka, Wenger turned to Henry, at the time playing on the wing for Juventus. The France forward developed into one of the best strikers in Europe, and became the Gunners' record goalscorer.

Speaking at an Arsenal Independent Supporters’ Association event, Campbell said: “Sometimes players go straight from having a long career into management and they are burnt out. I am not ready but I am going to have to do it.”