It was the second major loss for Arsenal this summer, as the much-publicized transfer saga of Robin van Persie came to a close last week with a deal being reached with Manchester United worth around £24 million.
The bright side is now Arsene Wenger has the funds necessary to find a replacement for Alex Song, who has put in some very strong performances as a holding midfielder over the years.
Let's take a look at five players that Wenger should contemplate signing in order to replace Song.
There have been reports this morning (via the Daily Mail) that Nuri Sahin has agreed to a deal with Arsenal already, but until I see Sahin in a Gunners shirt, I won't acknowledge it.
Nuri Sahin didn't have the greatest of seasons with Real Madrid last year due to an injury-plagued start and Real Madrid's star-studded midfield.
The young Turkish midfielder is quick and technically gifted, and he shows a great deal of vision.
Losing Alex Song leaves a void in the holding midfield position. If the rumors are true, then Sahin fills that gap nicely.
It also broke earlier this week that Arsenal have renewed their interest in Rennes midfielder Yann M'Vila after the departure of Alex Song (via the Daily Mail).
The young Frenchman is a bit more of an attack-minded defensive midfielder, giving the holding midfielder position a little bit more of an edge.
He is fantastic on the ball, showing great composure and a great football IQ, and knows when and where to pass the ball.
Due to Real Madrid's stellar midfield, Esteban Granero is another midfield name that is not often on the starting team sheet for Real Madrid.
He only appeared in 17 games last season, and with 10 of those being substitution appearances, he didn't manage a single goal, largely due to the fact that he only took 12 shots all season (via ESPN).
In spite of this, Granero has great distribution skills and shows composure under pressure. Granero also has a tendency to attack more but can settle into that holding midfield role.
Arsenal were linked with Etienne Capoue as early as May this year, but a deal never materialized.
Capoue was viewed as an alternative if M'Vila isn't signed, and it should continue to be as such.
Capoue is a very strong, young holding midfielder that would come at half the cost M'Vila would and with the same skill set and strengths M'Vila brings to the table.
Honestly, I'm not sure why Capoue isn't being considered more by Arsene Wenger.
The former FIFA World Player of the Year's career has taken a bit of a nosedive since joining Real Madrid in 2009, again largely due to Real's super-deep midfield corps.
Despite his growing age, Kaka still brings plenty to the table, including vision, pace and a little bit of trickery and flair—something that holding midfielders sometimes lack.
A sensational arrival to the Premier League would jump-start Kaka's career, and it would help bolster Arsenal's distribution and transitional play. Kaka linking up with the likes of Santi Cazorla, Lukas Podolski and Olivier Giroud is a formidable attack indeed.