Given that Arsenal were prepared to spend £72 million on Nicolas Pepe, the Arsenal legend has suggested that the Gunners should be willing to pay £40million to bring in Brendan Rodgers as their next boss.
Unai Emery retains the full support of his board for now, but that stance could change if no improvement is made on the field over the coming weeks.
Merson has already called on the Gunners to “break the bank” in an effort to land the former Swansea, Liverpool and Celtic coach, given the fine job he has overseen at the King Power Stadium.
He also feels that Rodgers could be a shrewd appointment for Tottenham, with speculation building over the long-term future of Mauricio Pochettino in north London.
The former Gunners star told Sky Sports: “I think he’s [Rodgers] one of the best in the business.
“If I was Arsenal, I would have been ringing Leicester up and saying, ‘how much do you want?’.
“If you’re going to pay £72 million for a winger [Pepe] that hasn’t played in the Premier League and has played in the French league, I would pay £40m for him tomorrow morning.
“I would say Arsenal [would be a good fit for Rodgers]. Arsenal or Tottenham. I wouldn’t get rid of Pochettino, don’t get me wrong, I think he’s different class. I think them two teams will be looking at him.
“For me, if you’re going to bring Brendan Rodgers in and what he’s done with the teams he has been at like Swansea, Celtic, Liverpool and now Leicester, you give him a six-year plan and let him do what he wants to do. He improves players.”