The Arsenal manager is perceived as being somewhat thrifty in the transfer market.
Tony Cascarino says Arsenal's failure to land Luis Suarez from Liverpool three years ago as the club's biggest missed opportunity and compares Arsene Wenger's transfer policy to a story Martin Keown once told him about the Frenchman.
Their tactic proved unsuccessful, however, and a no follow-up offer was ever disclosed, as Suarez fired Liverpool to second in the Premier League that season, scoring 31 goals.
The following summer (2014), the Reds sold their prized asset to Barcelona for £75million, as reported by BBC Sport, and was on target as the Catalans dumped Arsenal out of the Champions League this season.
According to Cascarino, Wenger's refusal to spend money on top players like Suarez is what's preventing the Gunners from pushing on in Europe and the Premier League.
"Martin Keown told me a story a long time ago - I know it’s a very silly one," the former Chelsea striker recalled during TalkSPORT's Alan Brazil Sports Breakfast show on Tuesday.
"Arsene Wenger never wanted to buy a patterned shirt, and you’ll never see him in a stripy shirt; checked shirt. He’ll always have plain. He says you only need these type of shirts - a blue one or a white one. I know it’s a bit of a daft thing to say but he’s a bit like that with his team. He doesn’t want to go and take a risk and spend that money on players that make a massive difference.
"The Suarez one will always amaze me. How they never got that across the line when they had the opportunity to take him from Liverpool was beyond belief for me because he’s exactly what Arsenal needed and you really feel that that’s been a missed opportunity."
According to the Independent, Arsenal have since spent a combined £77.5million on Mesut Ozil and Alexis Sanchez.