The Frenchman has found himself under pressure in recent weeks after the Gunners slumped to back-to-back Premier League defeats with Saturday’s loss to Manchester United.
Arsenal are currently eighth in the Premier League table and 15 points behind leaders Chelsea after 12 games.
And Arsenal shareholder Usmanov has offered Wenger some advice.
Usmanov told CNBC: “Arsene Wenger is one of the greatest coaches, not just of European, but of world football. But we have a Russian proverb which goes, ‘Even an old lady can have a roof fall on her’.
“Everybody makes mistakes. He can make mistakes and I know as you age it is more difficult, more challenging to accept one’s mistakes.
“The potential of the team is there but there is no critical evaluation of mistakes and they need to acknowledge them, because no genius can retain the same level of genius if they do not acknowledge mistakes.
“It’s only when you admit your mistakes that you can get rid of them. I wish this for my club.”
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