The Gunners have signed one outfield player in 18 months.
The Gunners will almost certainly fail to win a trophy this season, with Wenger's troops already eliminated from the FA Cup and Champions League, while they are also too far adrift of Premier League leaders Leicester City as another title looks set to go begging.
Perhaps their perceived failure can be traced back to what Wenger did - or didn't do - in last summer's transfer window, with goalkeeper Petr Cech their only signing.
In fact, they were the ony club in Europe's top five divisions not to sign an outfield player last term but, with 66-year-old Wenger very much in the twilight of his career in North London, Hartson, who briefly played under the Frenchman, says that his old boss might splash the cash in a bid to win his first title since 2004.
"He knows he hasn't got long left to win a title. I think he'll spend a lot of money this summer," he said on BBC radio, as quoted by their Twitter page.
If he does, it will undoubtedly delight the fans, who have been crying out for reinforcements down the years - especially in the striking department, with Olivier Giroud too inconsistent to retain his goalscoring form all season, whereas Danny Welbeck and Theo Walcott remain untested as long-term centre-forward options.
Wenger, whose contract runs until 2017, will celebrate 20 years in the job if he remains in charge by September.