Gary Neville has claimed that Arsenal's transfer activity is not as bad as what the team displayed on the pitch against Liverpool last Sunday.

The Gunners tried to nab a deadline-day signing in the form of Monaco star Thomas Lemar by tabling a £92m offer, but the player reportedly rejected a move.

The outcome of the pursuit had a knock-on effect with regards to Alexis Sanchez's future as the club refused to do a deal with Manchester City due to their failure to land a replacement.

Neville believes that Arsenal's ability to keep some of their best players, as well as bring in Alexandre Lacazette earlier in the window, proves that their transfer strategy was not completely flawed.

However, the former Manchester United star is concerned about Arsene Wenger's team on the pitch following their humiliating 4-0 defeat to Liverpool prior to the international break.

"If you said after the FA Cup final that they'd keep Alexis Sanchez and Mesut Ozil, got Alexandre Lacazette, strengthened their defence and got £40m for Alex Oxlade-Chamberlain, then you'd have said they'd had a good window," Neville told Sky Sports News.

"Unfortunately, their performance against Liverpool has changed the perception of what Arsenal are about. That's a big problem. There was five or six players that day that I couldn't stand watching. It defied logic. The lack of personal pride and standards."

The Gunners' next Premier League game will be at home to Bournemouth on September 9.