The 2021 summer transfer window has shut and Arsenal, who are bottom of the Premier League table, have ended it as England's biggest spenders.
Aaron Ramsdale, Ben White, Martin Odegaard are the three most notable arrivals while several players, including Willian and Hector Bellerin, have departed and Granit Xhaka remains after signing a new contract.
Already there is a view that none of the new faces are good enough to sufficiently move the needle, leading to questions over the clubs transfer strategy under technical director Edu and clear evidence that they are no longer able to compete for elite talents without European football.
But what about the money side of things? Let this quick explainer guide you through the numbers.
Confirmed transfers
In (figures according to transfermarkt): Ben White (£52.6m; Brighton), Martin Odegaard (£31.5m; Real Madrid), Aaron Ramsdale (£25.2; Sheffield Utd), Takehiro Tomiyasu (£16.7m; Bologna) Albert Lokonga (£15.75m; Anderlecht), Nuno Tavares (£7.2m; Benfica). Total spent: £149m.
Out: Joe Willock (£26.5m; Newcastle), Lucas Torreira (£1.3m loan fee; Fiorentina), Willian (free, Corinthians), six loans. Total made: £27.8m
What does this summer tell us about the club’s financial state?
There has been a long-held view from supporters that Stan Kroenke is unwilling to commit enough funds to return the club to their past glories but the fact Arsenal were this summer's biggest spenders goes some way to dispelling that myth - even though financial decisions taken elsewhere around the business during the pandemic, including avoidable off-field redundancies, should still rankle.
Is their transfer activity part of a wider trend?
In spite of the no-investment impression, it is worth considering that in four of the past six seasons years more than £100m has been spent on new signings and in the other two the figure was north of £70m.
How does their spending compare to rivals?
Going over a five-year window, only the Manchester clubs have a bigger net spend. That pair plus Chelsea are the three clubs to have committed more money to fees, with the West London club doing an impressive job at making money through sales.
Will there be more of the same going forward or can fans expect a change in strategy?
There is so much uncertainty around the club it is impossible to make any predictions with unwavering confidence. Will Arteta still be there come the January window? If form does not improve immediately then obviously not. The squad is still in need of enhancement but it is hard to see why any first-rate talent would join a club in such disarray.
Alex Lacazette is among those likely to leave as a free agent next summer, while Pierre Emerick-Aubameyang has less than two years remaining on his deal and could be sold. There will continue to be money to spend but how much and the quality of player that can come in depends on their ability to qualify for Europe.
