Arsenal transfer news: Robert Pires urges Gunners to address Mesut Ozil and Alexis Sanchez contract situation

Arsenal legend Robert Pires believes that the first thing the Gunners have to do is secure the futures of Mesut Ozil and Alexis Sanchez, who have entered the final year of their contracts before moving in for further reinforcements.

Pires was an important cog in the Invincibles Team of 2003/04, when they went an entire season undefeated, with the likes of Patrick Vieira and Thierry Henry providing the stability and firepower, respectively. The next season is going to be completely different, especially with the Gunners missing out on Champions League football for the first in 20 years under Arsene Wenger.

The north London club finished fifth last season with 75 points, and could not qualify for Europe's biggest club competition. The manager has been urged to strengthen his squad with two or three new additions, with Arsenal pursuing Thomas Lemar from Monaco and Alexandre Lacazette from Lyon.

Both players have had a bid rejected from Arsenal, as reported by the Telegraph, and the Gunners are expected to come back with a better offer. The North London side has completed one signing thus far, that of Sead Kolasinac from Schalke on a free transfer.

"This summer for Arsene Wenger is very important," Pires told Arsenal's official website. "In my opinion, he needs to try to extend the contracts of Alexis and Mesut Ozil. This is the first thing, and after of course you need to sign new players.

"Everything has changed because we're not playing in the Champions League, but we must focus and look forward to the new season. The most important thing is to win the Premier League, for him, the players and the fans.

"I believe in Arsene Wenger, I believe in this squad, I believe in the young players like Alex Iwobi and Hector Bellerin. When I see the name on the paper or the squad, it's very good.

"Some players can play at a very high level and play for the national team. Maybe Arsene Wenger [would like] two or three more players but the stability is here because he's extended his contract."