They need reinforcements, however, to close the gap on the top clubs in the league and they have already moved to make two big signings – bringing in forward Willian from Chelsea and defender Gabriel from Lille.
More deals are expected to follow with Thomas Partey rumoured to be Arteta’s top target and you can keep up to date with all the latest Arsenal news and gossip below…
Lyon may be willing to negotiate with Arsenal over the sale of Houssem Aouar.
The Gunners are still in talks with his agent, with the 22-year-old midfielder valued at £54.5million.
However, the possible sales of Hector Bellerin and Lucas Torreira may make the deal possible and, according to journalist Fabrizio Romano, ‘if no offers come to Lyon in the coming weeks they may allow price negotiations with Arsenal’.
Fans – and Edu – will hope no other clubs show an interest in him…
Barcelona are reportedly interested in signing Hector Bellerin.
The Spaniard has also been linked with the likes of Paris Saint-Germain and Bayern Munich as the north London side look to raise funds for incoming transfers.
Meanwhile, Lyon sporting director Juninho has played down the prospect of Alexandre Lacazette returning to the club this summer.
Paris Saint-Germain have reportedly opened talks to sign Arsenal midfielder Matteo Guendouzi.
L’Equipe report that the French giants would be keen to include Julian Draxler in exchange, although it’s unknown at this stage whether or not the Gunners would be keen on that type of deal.
Guendouzi has fallen well out of favour under Mikel Arteta’s tutelage following a string of bust-ups.
David Luiz was not seen training with the Arsenal squad on Wednesday.
As the club prepare to play Fulham in their first game of the new Premier League season, the defender was absent – reportedly with a neck problem.
That could keep him out beyond the opening day, however, Matteo Guendouzi and Mesut Ozil were there.
Guendouzi has been linked with a move away from the club, with Lyon sporting director Juninho Pernambucano saying he was the ‘wrong profile’.
Ozil, meanwhile, has not seen eye-to-eye with manager Mikel Arteta but talkSPORT has been told that should have been sorted out ‘months ago’.
Rob Holding is staying at Arsenal.
The 24-year-old centre-back had been linked with a loan to Newcastle, but Mikel Arteta is said to be keen to keep him at the club.
It could be due to the injury David Luiz has suffered ahead of the first game of the season, against Fulham – live on talkSPORT at 12.30pm on Saturday.
However, The Athletic claim the manager wanted him to stay ‘irrespective’ of Luiz’s injury and is now in line to start the London derby.