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Arteta on contract extension: I'm excited about what we can do together (0:30)

Arteta signed a three-year contract extension with the club. (0:30)

6:21 PM ET

In the space of four days, they have lost two chances to take control of their destiny in the race for the top spot in the league, and now they are relying on the other side of the table to get them back in the race.

After losing to Spurs last Thursday, it was necessary for the north London club to get back into the top four if they could win at Newcastle on Monday.

The only positive from the 2-0 defeat at St. James Park was that the final score line was not indicative of the home side's dominance.

Midfielder Granit Xhaka went even further by suggesting a weak mentality among his teammates, after manager Mikel Arteta said that they were 100 times better in every department.

Xhaka said that people always speak about leaders. Stay at home if someone isn't ready for the pressure. You cannot come here and play like this.

They ran us over from the first minute to the 96th. You don't deserve to play in the league when you play like this.

Xhaka was as big of a culprit as the people he was criticising. The Switzerland international is experienced enough to lead this team on the pitch, but he was nowhere to be seen when the team was losing, unless he is blaming himself.

Having been a point away from qualification against Spurs last week, it's now up to the north London club to beat Everton on Sunday and hope that the Canaries lose at Carrow Road.

If that happens, it will be the luckiest team on the planet, but they don't deserve any fortune or favours after their embarrassing failure to get the job done themselves.

Arsenal manager Mikel Arteta looks on with his coaching staff during a 2-0 loss to Newcastle United at St. James Park on Monday. Oli Scarff/AFP via Getty Images

The ramifications of their late-season choke could have major implications for the club.

It would be worth at least 70 million to the club if they qualified for the playoffs. They could make close to 100 million dollars if they make it to the knockout stages.

That kind of financial boost would allow the club to compete with the leading clubs in the transfer market this summer and ensure that emerging stars such as Gabriel Martinelli had no reason to consider a move elsewhere.

Nothing can be certain without the playoffs. The finances of the senior competition of the European Union are worse than that of the Europa League because it does not appeal to the best players.

The difference between the two tournaments is huge, as the difference between the two tournaments was just 39 million dollars.

It can't be all about money and finances. The money did not affect the performance of the team.

Arteta's players lacked desire and hunger. The team that had everything on the line was the one that performed like it.

The home side outfought the visitors in the defeat at Spurs. Even though Arteta has made progress in changing the attitude at the club, old habits die hard and they still lack tenacity when they need to fight their way to a win.

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Aside from Saka, who is only 20 years old, there is no other player who can be relied upon to measure up when faced with a challenge. All of the players are waiting for someone else to step up because of the lack of leadership in the team.

The players in this game were wearing black and white shirts. A Ben White own goal and a Bruno Guimaraes strike were enough to seal the 2-0 home win.

That is down to the club. They have failed to seize the initiative with the prize of European football within their grasp.

Arteta said he was incredibly disappointed. Today it is not in our hands. There is always a small chance in football, but we have to beatEverton and wait forNorwich to beat Spurs.