Arsenal could lose Aaron Ramsey, who will be a free agent next summer, but he can still sign a pre-contract with foreign clubs.
Manchester United and Liverpool have also been coveting the Welsh midfielder, who is currently the Gunners’ longest-serving player.
Although Unai Emery had a testing start in north London and lost his opening two Premier League games against Manchester City and Chelsea respectively, he has turned things around.
But Sutton thinks the coming months, in particular the transfer window, will determine whether Arsenal are still involved in the title race.
He said: “It’s going to be a big January for Arsenal in terms of who they recruit.
“They are not far off.”
Arsenal notched up their 10th Premier League win in a row with a 3-1 victory over Leicester at the Emirates.
When asked whether his side can contend for the title, Emery said: “We have every match as a big challenge. To continue wining is difficult and today is very important because Leicester are near us in the table.
“We’e only thinking of each match.”
Meanwhile, Hector Bellerin thinks the Gunners are much improved under Emery.
“We work throughout the week to be good from the start but if we keep playing the football we will get chances,” he said.
“Tactically, Unai Emery has always been a coach which wants his full-backs to push forward and gives a lot of confidence to them and makes sure we have cover.
“It is important to have the confidence behind you.”
Emery still has one decision to make despite ten wins in a row. Bernd Leno has started the last three games in goal for Arsenal with Petr Cech having suffered a hamstring injury.
Cech is nearing a return to full fitness but Leno played against the Foxes on Monday.Leno seems more suited to Emery’s preferred playing style though Cech is arguably the better shot-stopper. And Burley believes Emery needs to make a decision as to who is his preferred No 1 going forward.
“Unai Emery has a proven track record, no matter what you say,” Burley said “One of the decisions he’s going to have to make is the goalkeeping.
“There was talk of Petr Cech coming back but clearly Leno is more comfortable playing out from the back with his feet.
“He’s got to make a decision. Who is best playing with their feet from the back or who is the better goalkeeper.
“Even when Sokratis comes back in, it’s not the strongest defence so the goalkeeping position for them is going to be key.”
Despite the win over Leicester, Emery wants more control from his players.
He said: “Different halves, every match is difficult. First half we didn’t control the match with possession and positioning.
“We are happy because we are progressing. We need to play with organisation but also with heart.
“We are beginning to play with heart.
“When you continue to improve your demands are very high. We need to control the matches more than we are doing now.
“First half we didn’t play well but then we played with quality and heart. This feeling together is very good.”