Arsenal’s new boss will need £250m this summer to challenge for top four, insists Ray Parlour

ARSENAL’S new manager will need a whopping transfer budget of £250million to get them challenging for a top four place again.

That’s the brutal view of former Gunner Ray Parlour, who is urging the club’s top brass to back the new man this summer when Arsene Wenger departs on Sunday.

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Juventus boss Massimiliano Allegri is the new favourite for the Emirates hotseat, with the Italian set for talks over his future in Turin at the end of the season.

Former Chelsea manager Carlo Ancelotti is the Gunners’ back-up plan if Allegri opts to stay in Italy.

And three-time Premier League winner Parlour insists that whoever succeeds Wenger will need funds to get the Gunners back into the Champions League.

He told: “If I was the new manager going into the club in the summer, the first thing I would say is, ‘How much have I got to spend?’.

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“I’d say they would need £200m, but a little bit more if they want to complete - £250m.

“A big problem Arsenal are going to have this summer is attracting the big players, because they’re not in the Champions League.

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“The challenge for Arsenal’s new manager is to get back into the top four, and to do that you’ve got to have investment – simple.

“The board have got to back him. They won’t want to spend a lot of money in the summer, but that’s what they’re going to have to do if they want to compete in the top four.”