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This was undoubtedly a landmark transfer window for Arsene Wenger and Arsenal.
Signing Mesut Ozil is an utterly transformative moment for the entire club. Arsenal have smashed both their transfer record and the existing preconceptions around the club.
In one deal, Arsenal have changed their image from parsimonious puritans to major market movers. Not since the arrival of Dennis Bergkamp in 1995 have Arsenal landed such a universally acclaimed talent.
However, Arsenal fans will worry that one huge deal is not enough to balance a decimated squad. Arsenal let 12 players leave this summer, and have brought in just 4 replacements.
The decision not to sign a striker could prove particularly costly. Olivier Giroud has started the season terrifically well but a change in form or fortune could be just around the corner. With Lukas Podolski already sidelined, Arsenal may find they lack the finishers required to convert the chances Ozil will undoubtedly create.
Ozil is a tremendous acquisition, but Arsenal fans will wish he had been accompanied by a couple more high profile additions.
Overall Grade: B