the problem is not Wenger (though he certainly doesn't help himself), the problem is the board. Kroenke and co. want to turn a profit, they want self-sustaining business model and dropping out of the CL is just going to make us end up like fucking Liverpool, minus the exorbitant spending on shit players because we won't spend any fucking money to begin with.
through the Wenger era, we have almost certainly the lowest net-spend of any team in the Premiership. the problem isn't the manager, the problem is the fact that we don't spend any fucking money. before, that was fine because we nurtured young talent and had a stadium to pay for, etc. but now w/ the new kit deal, the new TV deal... more money flowing in, so it's even more important to qualify for the CL because we might actually (!!!) spend some money this season.