The Gunners slumped to a humiliating 3-1 loss to Swansea City on Tuesday night despite Nacho Monreal handing Arsenal a first-half lead at the Liberty Stadium.
Arsenal were guilty of some unforgivable defensive mistakes against the relegation candidates to miss out on the opportunity to close the gap on their top-four rivals.
Chelsea suffered a shock 3-0 loss to Bournemouth at Stamford Bridge on Wednesday night following a dismal performance in front of the home supporters in west London.
The Blues dropped down to fourth place in the Premier League table following the setback to leave Tottenham Hotspur a mere two points behind their derby rivals.
Antonio Conte’s side have only managed to win one of their last four Premier League games to raise serious questions about his future at Stamford Bridge.
Former Arsenal star Nicholas believes Chelsea and the Gunners will finish outside the top-four places.
“I said before that I thought it would be Chelsea who also missed out and that view is only strengthened after their Bournemouth defeat and a big win for Spurs. Giroud must have been sat watching Chelsea thinking this is worse than Arsenal,” Nicholas told Sky Sports.
“Antonio Conte’s comments after the game were scary and Roman Abramovich doesn’t take kindly to that sort of chat, so the way things are going they and Arsenal are nailed on to miss out.”
Arsenal signed Manchester United midfielder Henrikh Mkhitaryan and Borussia Dortmund striker Pierre-Emerick Aubameyang in the January transfer window.
Chelsea brought in Everton midfielder Ross Barkley, AS Roma defender Emerson Palmieri and Arsenal striker Olivier Giroud.
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