“He’s not a [Jose] Mourinho or Pep Guardiola, who I’d call your Tiger Woods and Rory McIlroys, they’re just dealing in majors, nothing else!
“Arteta is the type who might work from the ground up with lesser players.”
Merson added: “I quite like it because now coaches have got to be coaches, they’ve got to make these players better. I think clubs are going to be really, really cautious in the market.
“Before all of this happened, I thought sooner or later a player would be earning half-a-million pounds in the Premier League, no problem, but I don’t see that happening now, not any time soon.
“For me, this is where coaches become coaches. It’s all well and good buying £80m players all the time.