The Gunners are currently scrambling to secure a top four place this season.
Arsene Wenger’s side were expected to be title challengers this season after finishing last year as one of the in form teams in Europe.
They started well too, ending 2015 at the top of the Premier League table and looking like contenders.
Instead they have fallen away in the title race, with Leicester City and Tottenham Hotspur pulling away from the rest.
That has frustrated everyone at the Emirates, who believe this was their best chance for a number of years, and Arteta has admitted his own disappointment in how things have gone.
“It’s frustrating because I feel this was our best chance in the last five years to win the league,” the Daily Star reports him saying.
“At the moment we are managing the disappointment of the players, of the staff and of the fans. We haven’t reached our objectives.”
“At this stage of the season we wanted to be in the fight to win the Premier League and other honours. It’s not easy to accept that we can’t fulfill those goals. But now it’s important we finish as high as we can.”
There is no denying that this season must be viewed as a huge missed opportunity for Arsenal this season.
With their usual rivals all struggling they should have been contenders, but instead have fallen away while Spurs and Leicester have taken up the mantle.
That has put the pressure on Arsene Wenger, and it will now be interesting to see how the club responds in the summer, with many calling for a major overhaul of the squad.