Wenger has a contract until the end of next season but reports in England suggest he could be replaced this year, with Germany boss Joachim Löw among those linked with the role.
Ian Wright - who scored 185 goals in 288 games for Arsenal - spoke on the Monday Night Club (via BBC Sport) regarding the future of Wenger, the club, and it's owners.
"He'd be able to attract big players and he'd be given a chance by the fans".
"I'm finding it hard to take because it's a wonderful football club with a great history and tradition, but at the moment they're in decline in terms of their performance levels and their standards", he added. I am just amazed that I have to always answer things that are exactly the same.More news: Apple plans three new iPhones for 2018
Wenger said his team has to accept that criticism, but defended their work ethic and pointed out that they showed plenty of fight in getting to the final.
"You can say you don't agree and I understand that but the effort, the commitment, the hard work is behind it". The Gunners' sole hope of silverware now rests on the Europa League, where they face Italian giants AC Milan in the round of 16. If you want me not to be here, that's a different problem. "You never feel satisfaction and I'm sure even today [Monday] we'll be back at it and focusing on the next game".
"You can lose finals", Arsenal great Thierry Henry said, "but it's how you lose them". The performance against City exposed all the frailties that Arsenal has always been accused of: no backbone, no leadership, a poor attitude.
He is out for the two games on Thursday and Sunday, certainly out. "This gives you the feeling you can achieve stuff playing how we do". For us it is more like a reward for having played so well this season on so many occasions.
"I think we played a bit apprehensively and that is important that we go into the game with that force that is part of our game and our philosophy".