By ESPNSTAR.com staff
Graham told UK tabloid The Sun, that he believes Wenger will be at Arsenal for years to come despite coming under intense pressure to resign this season.
Wenger angered fans in the summer by selling club captain and last season's top scorer in the Barclays Premier League Robin van Persie to rivals Manchester United. At the time it was seen as a lack of ambition by the Gunners.
Arsenal have not won a trophy in seven years and have since turned into something of a selling club with names like Cesc Fabregas and Samir Nasri among the players to have left in recent times.
Graham - a league winner with the Gunners in 1989 and 1991 - thinks Wenger is still the right man for the club as they continue to qualify for the lucarative UEFA Champions League season after season under his leadership. However, he has urged the Frenchman to put on his "magic hat" once again with regards to transfer dealings to re-inspire the Gunners to greater heights.
"There is a lot of hysterical criticism about Wenger now. If you want to stay in the top four, he is the man without question," he told The Sun.
"I think Wenger will stay there. He is very powerful at the club and rightly so.
"He will make the decision if he leaves or not. I cannot see him leaving at all.
"He enjoys Arsenal, the power and influence he has got throughout the club. I think Arsene will still be there for a few years yet. I just hope they bring in a better quality of player."
He added: "Let's give Arsene the credit. He brought in players for average prices, Thierry Henry, Nicolas Anelka, Marc Overmars, Patrick Vieira, Emmanuel Petit.
"They were all very good players unknown to the fans in England that he turned into fantastic world-class players. That was his strength.
"He did it on a tight budget so it's not like they are now going to go out and break the transfer record.
"They have never done it during Arsene's reign so in my opinion he has got to get his magic hat on again and go out and see if he can get players of that quality at good prices."
One of the players the UK press has repeatedly linked Arsenal with in the last few weeks is Newcastle United striker Demba Ba. A latest report from the Daily Mail, even went as far as to claim that Ba has "opened the door" to a move by admitting Arsenal are a club that 'makes you dream'.
Ba has scored 11 goals in the Premier League this season and has a £7.5million release clause in his contract.
Meanwhile, eighth-placed Arsenal travel to Reading in Monday night's only Premier League fixture hoping to get the points which will keep them within touching distance of Tottenham in fourth.