With a huge budget and a need for a premier scorer, this summer was Arsene Wenger's opportunity to show he can take Arsenal to the next level.
The notoriously conservative manager already missed out on Gonzalo Higuain earlier in the summer. The former Real Madrid star ended up with Serie A power Napoli for £34.5 million, according to Sunni Upal of the Daily Mail.
Now it appears that he's missed out on Liverpool star Luis Suarez.
Arsenal submitted a £40,000,001 offer for the striker with an understanding from Suarez's advisors that a clause in his contract would force Liverpool to sell him for that price. However, Suarez soon found out otherwise. The clause only forced Liverpool to inform him that the offer was made.
The Uruguayan has since dropped his arbitration case, and Liverpool have set the asking price at £55 million, per David Maddock of the Mirror.
With the price now way more than what the club would have had to pay for Higuain, the Gunners' only hope is for Suarez to voice his displeasure with the club and demand they lower their asking price.
As Alex Hankin of the Mirror reports, that doesn't appear to be the case. Suarez is understanding of the situation and happy to be with Liverpool, according to club manager Brendan Rodgers:
Luis is happy. He totally understands the club's point of view... He's in a difficult position in terms of not being able to play because of his suspension - he will sit out the first six games and he will miss playing football... But he's working hard and remains part of the group. He hasn't been moping about... It's obviously difficult when you come back after a break but he has settled in and has been working well.
If Suarez is really as happy with his situation at Liverpool as Rodgers suggests, the door is most likely shut for Arsenal to swoop in and sign the player, which is unfortunate for the London club. Signing Suarez could have been the key addition that would have taken Arsenal to the next level.
The Premier League is set to be very interesting next season. Manchester United will play its first season without Sir Alex Ferguson on the sideline for the first time since 1986, while Chelsea will also undergo a managerial change with Jose Mourinho taking over for Rafael Benitez.
Arsenal could have taken advantage of the transition by adding either Suarez or Higuain. Instead, it appears they will continue on with the same amount of mild success that they achieve every season.
For fans of the Gunners, that has to seem like a failed summer.