• Arsenal head coach Arsene Wenger.

Arsenal head coach Arsene Wenger. (Photo : Getty Images)

Arsenal legend Thierry Henry admitted during his appearance on Sky Sports that he's quite baffled by the Gunners' conservative stance in signing big time players this transfer market season.

"The thing I don't understand is: we've been told that Arsenal are wealthy, that we have money, that we can compete against anyone in the market, but when the season starts, we can't compete in the market," Henry stressed while doing his job as an analyst for Sky Sports via Real GM. "So which one is it? I just don't understand.

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Henry, 38, has also provided a pessimistic opinion on whether or not Arsenal can still attract elite players, adding their inability to attract big names this offseason already suggests that the Gunners aren't longer the no.1 choice in England.

Henry on Arsenal's transfer policy:

"Are Arsenal still the first choice in England? If a big player becomes available on the market, first of all, can you compete? Can you put the money on the table? Next, is the money stupid? We all know the money is stupid but you have to pay.

And finally does the player want to come to Arsenal? That's something we all need to take into consideration. So are we still the first choice in England? I don't think so."

Arsenal has been clearly outspent by rivals Manchester United, Chelsea and Liverpool this offseason, having only signed Granit Xhaka and Rob Holding. Both players made an appearance but hardly made an impact in the Gunners' 4-3 lss to Liverpool on Sunday.