Missing out on Champions League football was a major blow to Arsenal, although Mikel Arteta’s side do not appear to be letting that derail what was always going to be an ambitious summer.
Already, they have expressed interest in signing Manchester City pair Gabriel Jesus and Oleksandr Zinchenko in an attempt to pad out the squad as they plot another top-four assault next season.
Still, getting either deal over the line looks difficult and Arsenal have plenty of other irons in the fire this summer.
Here’s the latest Arsenal news and rumours.
Youri Tielemans
Leicester City star Youri Tielemans has been identified as one of Arsenal’s key targets this summer and looks set to leave the King Power Stadium as he approaches the final year of his contract.
While Champions League-level interest from elsewhere could complicate matters, The Athletic have provided a promising update.
They claim Tielemans no longer sees playing in Europe’s elite club competition as an immediate necessity when it comes to picking his next destination.
Leandro Trossard
Voetbal Belgie claim Brighton’s Leandro Trossard is on Arteta’s wish-list this summer, too.
Another player entering the final 12 months of his contract, the Belgian international would be a Premier League-proven addition to his attack.
While perhaps not as an exciting name as some of the other names linked with a move to the Emirates Stadium, it’s worth remembering the 27-year-old out-scored all but two Arsenal players last season for a team not exactly renowned for putting the ball in the back of the net.
Marquinhos
Finally, Arsenal are thought to have signed Brazilian youngster Marquinhos.
A deal to sign the 19-year-old winger was struck last month, although Wolves’ interest threatened to scupper the deal.
However, Standard Sport’s Simon Collings has revealed there is now a hope of wrapping up a deal to sign the Sao Paulo youngster.
Gabriel Jesus
A blow for Arsenal fans.
Tottenham are keen on a move for the Manchester City striker, making a deal hard enough.
Now, Standard Sport understand Chelsea have been offered a deal for the Brazilian international, which could further weaken Arsenal’s position given they can offer Champions League football.
Raphinha
This could be a big one for the Gunners.
The Daily Telegraph claim Leeds star Raphinha is of interest to Arsenal, should they miss out on other targets.
Barcelona had been strongly linked with a move for the forward, although their financial problems could block any deal.
Nicolas Pepe has failed to convince and the Brazilian - who scored 11 times for Leeds last season - could be viewed as a replacement.