The Frenchman watched his side slump to a disappointing goalless draw with West Ham United at the London Stadium on Wednesday night as they slipped further down the table.
Arsenal are now in seventh place in the table and a staggering 19 points behind leaders Manchester City after 17 games of the new campaign.
The Gunners’ first priority will be to get themselves back into the top four and challenging for Champions League qualification.
However, with Arsenal having already missed out on Champions League qualification for this season following their fifth placed finish last term, Wenger’s position has already been questioned.
And former Arsenal defender Keown, who was part of the team who went unbeaten in the 2003-04 league campaign, admits that it may be time for Wenger to step down.
Speaking to BT Sport after Wednesday’s draw, Keown said: “Arsenal just haven’t got that cutting edge and they’re losing ground on their rivals.
“They’re slipping deeper and deeper down the table. The Champions League is now looking like it’s not going to happen for Arsene Wenger and the questions will come again about the manager, is he going to be there next season or not? It looks like the end.
“If it doesn’t get much better for him then at the end of the season, he has to hold his hand up and say maybe he’s not the man to take this club forward.”
Arsenal return to Premier League action on Saturday when they take on Newcastle United at The Emirates.
The Gunners have won the FA Cup in three of the last four seasons.
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