Arsenal secured a major boost by defeating Premier League champions Liverpool ahead of their FA Cup semi-final against Manchester City tomorrow.
The Gunners may find success in that competition to be their best avenue into the Europa League next season, although they still have a chance of the necessary Premier League finish.
There is no denying that Arsenal are a long way from where they aspire to be and Mikel Arteta has a stern challenge in the market to improve the squad.
Plenty of names have been linked with a move to the Emirates Stadium and we have gathered some of the latest rumours below.
Arteta reveals Lacazette stance
Arteta has reaffirmed his desire to keep hold of Alexandre Lacazette this summer.
The Frenchman has been linked with a departure from the Emirates but Arteta has insisted he wants him to stay.
He said: "Why would I want to lose a player like him? I'm really happy with him. I really like Alex, I said that even before I joined here that he is the type of striker that I really like.
"I think he had periods where he was very unlucky because he was having the chances and not converting them which he is not used to.
"But the way he can link play, he's a massive competitor he hates to lose. He goes for every ball, you see in every challenge how he's ready to go. He works really hard and he's a very intelligent player, I am really happy with him."
Arsenal open to Aubameyang sale
Arsenal will cash in on Pierre-Emerick Aubameyang this summer if they can't convince him to sign a new contract.
Bleach Report claim that the Gabon striker will be used to fund Arteta's transfer budget this summer if he won't pen on fresh terms.
The report states Matteo Guendouzi, Shkodran Mustafi, Mesut Ozil and Ainsley Maitland-Niles are also available for potential buyers.
They state Celtic frontman Odsonne Edouard could be a potential replacement if Aubameyang leaves.
David blow
Arsenal target Jonathan David has stressed that he wants to join French club Lille.
The in-demand Gent striker has revealed he wants to move to France, with the Lille submitting a £23.5million bid.
Speaking to L'Equipe, David said: "Yes, I want to come to Lille.
"I have had a very good season. For me, my next step, is Ligue 1.
"And the footballing project at Lille is fantastic. They are a very good team in France.
"The Lille project interests me. I already speak French. That will help during my adaptation period.
"And Lille is very close to Gent geographically. So I will be able to concentrate on the pitch."
