With just three days remaining until the transfer window slams shut, it remains unclear whether Arsenal will be adding to their ranks.
Sead Kolasinac and Alexandre Lacazette have already arrived this summer and Arsene Wenger would like to bring in at least one more new face before next Thursday night’s deadline.
There are highly publicised targets, including Thomas Lemar at Monaco – although Wenger recently declared that deal as ‘dead’, as well as the potential for a late move for Paris Saint Germain start Julian Draxler.
But any deal could depend on Arsenal moving players on – with Wenger having openly admitted his squad is too big.
Arsenal have made late leaps in the transfer market before, with the likes of Mesut Ozil, Danny Welbeck and Per Mertesacker all joining just before deadline.
So could that happen again? Here we take a look at the best and worst case scenarios for the club over the next week.
Best case scenario
The player Arsenal have been hoping to sign for months.
The Gunners have had three bids knocked back for Lemar, the latest being for around £45 million – and it was expected they may return with one final offer.
But last week Wenger declared that the pursuit was ‘dead’ and that Monaco have ‘closed the door’ on Lemar leaving this summer.
Liverpool clearly believe there is still a chance of signing him, however, given they have launched a late move for the 21-year-old.
The shock twist could see Arsenal rekindle their interest, especially with Alex Oxlade-Chamberlain set to join Chelsea in a deal which could be worth nearly £40m.
This link has emerged late in the window, with reports in France suggesting Draxler has been made available by Paris Saint Germain.
The development came after PSG snapped up Neymar for a world record £200m deal.
Wenger is a long-term admirer of Draxler and has been close to signing him on more than one occasion during the past four years.
Draxler would provide a quality alternative to Lemar – one who could actually be cheaper.
It would also be a signing that would generate plenty of excitement amongst the fanbase.
The Ivorian has been Wenger’s priority target this summer when it comes to adding a central midfielder.
Informal talks have taken place between Arsenal and Nice regarding the 26-year-old, but no bid has been made.
It had looked like Seri would be heading to Barcelona, with a move all but agreed between Nice and the Catalan giants.
But the transfer collapsed at the last minute leaving Seri in limbo – and earlier this week the midfielder admitted that he would be open to a move to Arsenal.
Virgil van Dijk
Having conceded eight goals in their opening three Premier League games, Arsenal have come in for plenty of criticism over their defence.
Wenger is a fan of Virgil van Dijk, the Southampton defender who has been attracting strong interest this summer from Liverpool and Chelsea.
And there have been suggestions the Arsenal boss could make a late move for the centre-back, should he move some players on in time.
Shkodran Mustafi looks like he could be on his way out at the Emirates, with Inter Milan and Juventus linked.
The future of Alexis Sanchez looks bleak if you are an Arsenal fan.
All the signs suggest the Chile international wants out at the Emirates, with Manchester City his preferred destination.
There are reports that Raheem Sterling could be involved in a potential swap deal, although Arsenal insist they have not received an official bid.
Gunners fans are desperate for Sanchez to stay and Arsene Wenger insists he has not given up hope of the former Barcelona man signing a new deal.
Should that happen it would undoubtedly be Arsenal’s best signing of the window.
Moving players on
Arsenal have been struggling to shift several fringe players this summer.
Wenger has openly admitted his squad is too big and that he needs to move some players on before the end of the window.
Carl Jenkinson and Cohen Bramall both joined Birmingham last week, while Lucas Perez is also expected to leave in the coming days and return to Deportivo La Coruna.
But more is needed and Wenger will be hoping the likes of Kieran Gibbs and Mathieu Debuchy can also find new clubs before next Thursday’s deadline.
Alex Oxlade-Chamberlain is on the verge of joining Chelsea in a deal worth up to around £40m, while Shkodran Mustafi could be heading to Italy.
Worst case scenario
The worst case scenario for Arsenal would be to fail to land any of their transfer targets before Thursday evening.
Despite the FA Cup win in May, the unrest at Arsenal has already flooded back following back to back defeats in the Premier League at Stoke and Liverpool.
Fans want another new sigining, so should the deadline pass with Arsenal having failed to add to their squad it would heap even more pressure on the already under-fire Arsene Wenger.
That would increase tenfold should Alexis Sanchez leave the club before Thursday evening.
The Chile international has still not signed a new deal and the suggestions are he doesn’t plan to. Arsenal are adamant he will not be sold, but Manchester City will make an offer this week, with reports suggesting Raheem Sterling could be involved in a potential swap deal.
But the exit of the club’s new star man would cause some serious discontent around the Emirates.
Wenger’s misery could then be compounded by failure to move on the fringe players who are available to leave north London this summer.