Adrian Clarke believes Arsenal must break their wage structure to keep hold of Theo Walcott.
The Gunners winger has yet to sign a new contract with the Gunners and looks set to leave the club, either in January's transfer window or next summer for free.
And Clarke, who played under Arsene Wenger at Arsenal, believes the Frenchman must do everything in his power to hold on to Walcott.
“It comes to a point where you have to bend a little,” he told Extra Time. “Arsenal have really good principles. They don’t break the bank for anybody, they’re not held to ransom and they’ve got a strict wage policy.
"They don’t like to favour one player over another but sometimes you have to keep hold of your best players.
“You have to bend it a little bit and restructure so that Theo [Walcott] is happy. I don’t think Theo is asking for the earth.
“There does come a point where they have to push the boat out just a little and see if we can give these star men what they want and build a team around them.”
Walcott has been linked with a move to Liverpool and Clarke went on to say that any move would be a financial decision, rather than a footballing one.
“Arsene Wenger definitely wants Theo Walcott to stay at Arsenal,” he added. “There’s no question about that.
“He knows he’s a good player and an important player to keep at the club, he doesn’t want to lose another key man.”