London: Former Arsenal defender Lauren believes it will be a "good thing" if Arsene Wenger stays as manager, amid reports the club will announce a new contract for him on Wednesday.


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Several British media outlets have reported that the FA Cup winners are poised to announce that Wenger, 67, has signed a new two-year contract.


Lauren, right-back in Wenger`s 2003-04 `Invincibles` team, thinks it would be a positive move, but he called on the Frenchman to bolster his squad during the close season.


"We back him because it is a good thing that he has signed a new contract," he told BBC Radio 5 Live.


"But obviously people ask him to win things and I believe that he should go to the market and spend some more because the competition is getting tougher and tougher.


"They have to do more effort to sign a few top players. To win the Premier League, the Champions League and a top competition, you really need at least two or three top players added to do that.


"Also to keep the top ones, like Alexis Sanchez and some others."


Arsenal missed out on Champions League qualification for the first time in 20 years this season, but beat Premier League champions Chelsea in last Saturday`s FA Cup final.