Over the summer, Arsenal have added versatile defender Riccardo Calafiori from Bologna but are still searching for further additions to add more squad depth ahead of the new season.
A potential deal for a new striker is up in the air, while a a move for Real Sociedad midfielder Mikel Merino expected to drag on late into the window.
Such a lack of activity has alarmed Merson who believes Arsenal’s key players could be vulnerable to injury due to their lack of depth and heavy fixture load.
As such, he believes Arteta’s side are not necessarily contenders to challenge City at the top of the table – and may even face a battle on their hands to secure Champions League qualification.
‘I know after their performances in recent seasons in the Premier League this might be slightly controversial, but I think Arsenal are a couple of injuries away from being in a battle to make the top four,’ he said in a column for Sky Sports.
‘On paper, they are certainly Manchester City’s closest challengers, but last season the likes of William Saliba, Gabriel, Declan Rice, Martin Odegaard and Bukayo Saka all played a lot of football matches.
‘All their big players stayed fit and that was crucial for Mikel Arteta’s side last season, but they still could not overhaul Manchester City.
‘Talking up Arsenal as Premier League title challengers is dangerous for me this time around.
‘If they can keep all their big players fit they will push Pep Guardiola’s side close, potentially all the way again. But if they have some bad luck with injuries this time around, it could be a real struggle.’
Arsenal open their Premier League season at the Emirates against Wolves on Saturday.