Former Arsenal defender Sol Campbell has said that he understands why Robin van Persie has decided not to renew his contract at the Emirates Stadium.

The Dutchman revealed earlier this week that he had no intention of extending his stay in North London following weeks of speculation.

Campbell believes that Van Persie is frustrated with the lack of silverware, but has offered a ray of hope to Gunners fans by stating that he could still be persuaded to stay.

"I can understand why van Persie has decided not to sign a new contract," Campbell told The Mirror. "When you go back to your club for pre-season, and you look around the changing room, you want to see top players around you and think, 'Yeah, we're going to do something this season. This is where it's happening.'

"That's what van Persie is looking for, and maybe he's had a look and thought, 'Is this it?'

"Maybe it will be different in a couple of weeks, maybe there will be a cast of new faces to make him feel different. Maybe he could still sign a new contract if Arsenal rustle up £100m from somewhere and make a serious statement by signing three world-class players."

Manchester City and Juventus are believed to be the frontrunners to clinch Van Persie's signature.