The former striker believes the Frenchman is a squad player at best.
The midfielder has become a key player at the Gunners after coming into the side and impressing in the second half of last season.
The biggest aspect he has brought is his defensive nous, with many believing that he provides the team with the perfect balance that they have been missing over the years.
Nicholas though is not a big fan of the Frenchman, saying he should be a squad player at best in the squad.
“Francis Coquelin came in last season and freshened things up for us a bit,” he told Soccer Saturday.
“But I still don’t see him as a top class player for Arsenal to go with again next season. He’s a squad player, and a very good squad player [at best].”
One aspect that could be a big factor in Coquelin’s chances of first-team football in future is fellow midfielder Mohamed Elneny.
The Egyptian has been highly impressive since arriving at the Emirates in the January transfer window with several top displays to his name already.
He has been partnered alongside Coquelin in that time but Wenger is unlikely to maintain that once he has his full compliment of central midfielders to select from.
His preferred Arsenal line-up would arguably see him name just one defensive midfielder in the side, and at present there is an argument that Elneny is ahead of Coquelin in the pecking order.