With the Premier League season now over, Arsenal will be looking to add their first piece of silverware to the Emirates trophy cabinet as they take on Hull in the FA Cup final at Wembley this weekend.
But despite any cup success, the season has been a disappointment for Arsene Wenger as his team blew their chances of Premier League glory, after leading the title race for longer than any other side.
Wenger will once again have to strengthen his squad and add the players that can give the Gunners renewed vigour next year. Here we take a look at the latest transfer gossip surrounding the North London giants.
Real Madrid are looking to cash in on predatory striker Karim Benzema, with Arsenal a possible destination for the French international.
John Cross of the Mirror writes that the Champions League finalists are looking for £30 million for the player as he enters the last year of his current deal with Madrid. Cross also says that the player could be used as part-exchange bait, if the Galacticos make their expected move for Liverpool's Luis Suarez.
Benzema has had a tempestuous career with Spain's most decorated club but has shown some excellent form in La Liga this season. The player has hit 17 goals in 34 league games, featuring in all but three La Liga matches for Carlo Ancelotti's side, per Squawka.
Tony Dawber of the Mirror said back in April that Madrid will be willing to let the attacker leave, with Arsenal being a likely destination. He wrote that the "Spanish giants need to raise funds to make a shock bid for Liverpool ace Luis Suarez and could let Benzema leave for the Emirates Stadium to help finance the deal."
Benzema would be the perfect addition for Arsenal, with the club short in the striking department and over-reliant on Olivier Giroud to front the attack.
At his best Benzema is a world-class operator, but he can be plagued by bouts of inconsistency. Nevertheless, his capture would be a major coup for Wenger as he looks to add more star names to his squad.
Much will depend on Suarez's own decision on his future, but Liverpool's loss could be the Gunners' significant gain.
Another striking target for Arsenal has emerged as Juventus attacker Sebastian Giovinco appears to have opened the door to moving to the Emirates.
Ben Jefferson of The Express reports that the player's agent admitted his client might leave the Italian super club after playing just 17 games for Juve during this campaign.
Jefferson quotes Claudio Pasqualin saying: "Sebastian still has one more year on his contract. We're just going to have to wait and see what happens. If the club come to us with an extension, then that's fine. But if not, we'll have a look round for other clubs."
Arsenal's need for a versatile attacker might facilitate a move for Giovinco if Wenger is unsuccessful at attracting bigger names to the club.
The player was heavily linked with a loan move to the Emirates in the January transfer window, per Jefferson, but the deal was blocked by Juventus.
If Giovinco is available at a sensible price he would be a good squad addition for the Gunners, and at 27 years old he should be entering his prime. Capable of operating wide, he would be a useful alternative to the likes of Theo Walcott or Lukas Podolski.
But a train of thought suggests Wenger should be turning his attentions to bigger names in the striking department, and Giovinco does not fit that bill.
Newcastle will battle hard with Arsenal for the services of Loic Remy, as they look to retain the player that has featured on loan for them all season.
The 27-year-old French international striker has impressed hugely during his time at St James' Park, and his performances have gained him popularity with some of England's biggest clubs, as reported by David Wright of The Express.
Wright quotes Newcastle boss Alan Pardew saying: "We're not completely resigned [on Remy]; we're working hard to keep him. He has been an important part of our season."
Despite a season interrupted by injury for Remy, the player has hit an impressive 14 goals in 26 Premier League appearances, per Squawka.
Remy was spotted watching Arsenal play West Brom recently, fuelling expectation that the player will indeed be joining Wenger's squad next season; 101 Great Goals tweeted:
Remy certainly has the pedigree to join Arsenal, and he has the tools to become a huge success at the Emirates. He is a predatory striker in the Ian Wright mould, and Gunners fans would quickly fall in love with him.
Remy needs a bigger stage to perform on, and Newcastle simply cannot offer him that. Wenger knows that he could acquire the player for a relatively modest sum in comparison to Europe's A-list strikers.
The player would give Arsenal the alternative they need to Olivier Giroud and also the pace in the striker's position that Mesut Ozil needs ahead of him.