Alan Shearer has dubbed the situation created by Arsenal after the closure of the transfer window "very embarrassing" as they have £100m worth of talent out of contract at the end of the season.
After failing to land Thomas Lemar from Monaco, Arsenal blocked a move to Manchester City for Alexis Sanchez, who is now into his final 12 months of contract, along with Mesut Ozil.
The Gunners brought in just Sead Kolasinac and Alexandre Lacazette this summer, with Alex Oxlade-Chamberlain turning down a new contract to join Liverpool, while Lucas Perez, Joel Campbell and Kieran Gibbs were also offloaded.
Shearer thinks Arsenal have put themselves in a poor situation as they head into the thick of the season with Sanchez and Ozil not having signed new contracts.
He wrote in his column for Coral: "Sanchez is in the final year of his contract with Arsenal so he can sign for someone else in January. For me that is a huge gamble.
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"They had three big players with contracts that were going to expire in 10 months’ time.
"They sold one of them in Oxlade-Chamberlain but they still have Sanchez and Ozil.
"You are talking over £100 million pounds worth of talent there, who can walk away.
"It is a very embarrassing situation for Arsenal Football Club. How can you get into this position without selling them when it is clear they don’t want to be there?" Shearer added.
Sanchez was desperate to link up with Pep Guardiola at Manchester City, but with Lemar turning down a move to Arsenal, the Gunners were not prepared to let the Chile international head to the Etihad Stadium.
