Arsenal were only able to complete loan deals in the January transfer window, signing Cedric Soares and Pablo Mari from Southampton and Flamengo respectively.
That means Mikel Arteta is yet to complete his first permanent signing at the Emirates Stadium but that is sure to change in a huge transfer window this summer.
A significant rebuild is expected in North London, as Arsenal look to bring an end to their exile from Europe's elite competition and seal a return to the Champions League.
Plenty of rumours continue to float around and we have gathered some of the latest snippets below.
Said Benrahma linked
Arsenal have joined the hunt for Brentford star Said Benrahma following his impressive performances for the Championship promotion-chasers, The Telegraph reports.
The 24-year-old has scored eight goals and registered five assists for Thomas Frank's side so far this season, including a hat-trick in a drubbing of Hull City last weekend.
Interest in his services is high, with Leicester City and Newcastle United both recently attributed with an interest in the Algeria international - who would cost at least £15million.
Arteta's summer plans
Mikel Arteta is planning to make three transfers before a ball is kicked at the European Championships this summer and has identified three areas of improvement, The Daily Mail reports.
The Spaniard is keen on signing a centre-back to improve the defence next season, which is already braced for the arrival of the highly-rated William Saliba.
A creative midfielder to take the reigns is also being targeted, along with a box-to-box midfielder - which would see Arteta create a solid spine in his Arsenal side.
Arsenal told to sell Aubameyang
Arsenal have no choice but to sell Pierre-Emerick Aubameyang this summer if he refuses to sign a new contract at the Emirates Stadium, Kevin Campbell has said.
The 30-year-old has entered the final 18 months of his contract in North London and has been heavily linked with a move to join Barcelona, who flirted with a transfer in January, and, if no deal is signed, Campbell said he must be sold.
"My thoughts are Arsenal can't afford to be in a difficult situation, sticky situation, having a player run his contract down anymore," he told AFTV.
"I think it's got to be put on the table to Aubameyang and I'm sure, if they're in their right mind, they've been negotiating. So it's going to come to the summer, it's going to come to a head in the summer. If Aubameyang isn't going to sign, they're going to have to sell him."
