Is it time for Arsene Wenger to let go?

Arsene Wenger,undoubtably one of the best coaches in England has reached a stand still at Arsenal.A situation in which the fans have had enough of a trophy drought older than my 7yr old nephew.

After advancing to the quarter finals of the capital one cup,many felt that this might be the year Arsenal finally ended their barren spell,but a Freaky match against Bradford(Freaky in the sense that Arsenal fielded a very strong squad against a squad that cost £7.5K and still somehow managed to lose)saw them eliminated from realistically one of the few trophies Arsenal could win next year.Arsenal fans were furious,suprisingly even those who never really cared for the trophy branding it a'Mickey Mouse'Trophy were calling for Wengers head!but were they right to?Well this is a diverse question in the sense that Wenger has stabilised the club in terms of finances and again in the sense that he isn't using the money he's making,but lets look at it this way,Modern football is all about money..if you don't spend you won't amount to much,a few exceptional clubs spend less and win more,infact i can't think of a successful club in this day and age that hasn't splashed out a few Euros(except liverpool)and won tophies that matter.In my opinion,Arsenal fans are right to mad at Wenger,sure he has made them a consistent face in the Champions league but thats all the are!a participating team!It's a harsh reality really but it's a fact..even Chelsea have won a Champions league trophy before them(Thats a statement because Chelsea now has bragging rights over Arsenal).While Wenger is still apparently trying to build an 'Invincible squad' someone needs to wake him up and tell him that it's 2012,small budgets no longer work!you cant be invincible with Gervinho in your squad.

So here's how I see it;
Arsene Wenger either needs to put his pride aside and spend the heck out of his budget,if Walcott wants £100,000 a week and a pony..then offer him what he wants instead of losing him like he did Van Persie

Or..
Step down,This is a abit tough because first of all who will replace him?Pep 'too tired to coach' Guardiola??Roberto 'Not good enough' Di Matteo??Klopp??Benitez(when he gets fired)??

It's a really tough situation if you think about it from all angles.What are you opinions?