The north London side are currently on the hunt for a new manager after the Gunners opted to sack Unai Emery on Friday morning after a stuttering start to the new season.
Arsenal have only won four of their opening 13 Premier League games so far this season to leave them under intense pressure in the race to seal a top-four finish.
The Gunners have temporarily appointed former midfielder Freddie Ljungberg as the club’s interim boss as the north London side search for a successor to Emery.
Former Manchester United striker Neville has now explained why he is a big admirer of the north London club and says he fully expects Arsenal to recover from the situation in the long run.
Speaking to Sky Sports News, Neville said: “Arsenal is a great football club, I loved going there even when I was playing. We’re talking about a club that will come through this period, it will live long not just beyond Emery but the next manager as well.
“But they’ve always been quite responsible in their decision making.
“They’ve been loyal, but they’ve generally been run well, it’s a steady ship, and it’ll be interesting to see now with the reign of Arsene Wenger whether they get caught on the roundabout and spinning for the next few years. That’ll be something they’ll be working hard to try and resist.”
On their hunt for a new manager, Neville added: “The main thing they need to do is make sure they’re not sacking another manager in 12 to 18 months.
“It just will not work, it’ll cost them more money, sacking the managers in their respective teams but also in the recruitment ideas of the players who are brought in, I would imagine whatever manager comes in now will want to wipe out half that dressing room and that costs money.
“The reality is, they’ll want to bring their own players in, and that costs as well.”
Arsenal are currently preparing for their Premier League clash against Norwich City away from home on Sunday afternoon.
The north London side will then host Brighton and Hove Albion in the Premier League at The Emirates next Thursday night.
Arsenal finished in fifth place and lost the Europa League final to Chelsea FC last season.
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