Aubameyang has scored 61 goals in 96 appearances for the Gunners since joining the club in January 2018 but has yet to play for them in Europe’s elite club competition.
After Arsenal were knocked out of the Europa League with a defeat to Olympiacos, it will be difficult for Mikel Arteta’s side to get into next season’s Champions League, and former Chelsea star Cole believes Aubameyang may depart.
Joe Cole has suggested that Pierre-Emerick Aubameyang should leave Arsenal this summer
Cole claimed that Arsenal should get rid of up to seven players during a clearout this summer
Aubameyang, who has just over a year remaining on his Arsenal contract, scored a superb overhead kick against Olympiacos but missed a late chance as his side crashed out of the Europa League.
Speaking on BT Sport, Cole said: ‘If I’m Aubameyang I’d be looking out the door because he’s a player that needs to be playing at the very, very top level. He needs to be playing in the Champions League.
‘He’s not played enough years in the Champions League to cement himself as a top, top player, which is what he actually is because his stats and his numbers add up with anyone.
‘I think the process Arsenal have got to go through, they’ve got to go back to the days when they’re bringing players through, which they are, Saka, the left-back, I think is different class.
But also they need to find these gems that they were finding 20 years ago. Arsenal will always be able to bring players in because ‘of the name, because it’s in London and the stature of the club, players will want to play for Arsenal.
‘Traditionally they play good football, but again I think it’s a long road for them. I think they’re miles behind Chelsea and Tottenham, Man United, Man City. Man United seem to be coming back, it’s a long road for Arsenal.’
Cole added that he feels that Arsenal’s squad needs a significant overhaul and he suggested that the club should sell at least seven players.
Peter Crouch believes Arsenal are progressing well under Mikel Arteta but patience is required
Crouch says that the Gunners are still ‘not anywhere near’ the level where they should be
Cole said: ‘I think this is a long, long-term project. This isn’t something that’s going to get sorted out in 2-3 years when we’ll see them bounce back into the Champions League places.
‘If anything they need to get rid of about five, six, seven players and bring in new recruits, but they’ve got to get the recruitment right.’
Despite the setback against Olympiacos, Peter Crouch believes that Arsenal are heading in the right direction under Arteta.
Crouch feels that Arteta has improved the mentality of the Arsenal squad, but acknowledges that there is still much more work to be done.
Crouch said: ‘The signs have been good. It’s a big rebuilding process. Where they were at the start of the season, I think they’ve come on since Arteta’s come in, but it’s a long process and not anywhere near where an Arsenal team should be.’
Arsenal are currently in ninth place in the Premier League, while they face Portsmouth away on Monday night in the fifth round of the FA Cup.
Aubameyang is Arsenal’s top scorer but couldn’t stop them from losing to Olympiacos