With a raft of new recruits being run through the rumour mill, there could be the most activity in recent years at the Emirates in this window.
There is a whole host of players on loan that are still commanding high wages. Wages that could be used to bring in higher-calibre players.
Finishing fourth, on the last day this season, by pipping rivals Tottenham to the post, may have felt like a victory. But it was a hollow victory.
With the top three sides in the Premier League all going through managerial changes this summer, next season could represent Arsenal's best chance in almost 10 years of winning the title, but there are a lot of changes that need to be made.
Including getting rid of a lot of squad players at the club that Arsenal simply don't need.
All stats and facts provided by Arsenal.com.