Former Arsenal striker Wright and ex-Manchester United midfielder Hargreaves made the comments during the Matchday Live with Fletch & Sav show on Saturday morning.
“Why would Real Madrid even get rid of him?” questioned Wright.
“Why would he leave Real Madrid to go to Arsenal?” questioned Hargreaves. “No disrespect to Arsenal, but Real Madrid is the pinnacle of any player.”
No chance of getting Karim Benzema?
According to a report in The Guardian earlier this month, Arsenal could make a bid for France international striker Benzema towards the end of the summer transfer window.
However, as Wright and Hargreaves suggest, it is very unlikely that the Gunners will be successful in their bid.
Benzema has been on the books of Spanish giants Madrid since 2009 and is one of the most important players in the current squad.
Leaving Los Blancos for Arsenal would be a step down for the former Lyon star, who has won the Champions League and La Liga with the Madrid outfit.