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Emery has made it clear that Arsenal are in the market for loan signings only, with the Gunners likely to complete the loan deal for Barcelona star Denis Suarez even though there hasn’t been any official statement from either club.
Chelsea, on the other hand, set the ball rolling in the transfer window with the signing of Christian Pulisic, who is set to join the club next summer, before acquiring the services of Gonzalo Higuain on loan.
And Winterburn believes that Unai Emery can have Arsenal challenging for the title if he gets the right kind of financial backing from the club.
Winterburn told talkSPORT: “I think if Arsenal have had the spending power that Chelsea have had with [Roman] Abramovich in charge, then we may have seen something different.
“But I just want to see what Unai Emery can achieve. The one thing he needs to do is have some backing of the club with some money.
“If we’re going to look at loan signings and £10m, £15m players then I think we’re going to find it very, very difficult.
“I want to see where this manager can take the football club, I think that’s the most important thing.
“I’m all about supporting the manager that comes into your club. I want to watch how he works, I want to see him at least have a chance with some of the money that could become available.
“If he doesn’t have any money become available then he’s going to have a very, very hard job