As the transfer deadline comes to a close and last-minute signings finish up, it is time to take a look back through the transfer window.
While some clubs bolstered their squad with top quality players at great bargains, others brought in top class players for huge sums of money.
Some even lost more than they gained. These teams lost out on top players and now have to make do with mediocre players.
The following slideshow takes a look at the three Premier League teams that lost the most during the transfer window with respect to quality as well as quantity.
Newcastle's transfer policy during this transfer window is best described in one simple word: STUPID.
The Toons performed impressively last season with a team that had a good combination of experience and youth. The likes of Joey Barton, Kevin Nolan were the main reason for Newcastle's 12th-position finish.
In these season's transfer window, Newcastle sold off their two most dependable midfielders, Barton and Nolan, to QPR and West Ham, respectively. Though the Toons' boss promised much in signing the likes of Yohan Cabaya and Sylvain Marveaux, it remains to be seen how effectively the new arrivals will fill the void left by the departure of two experienced players.
Moreover, Newcastle manager Alan Pardew sold promising defender Jose Enrique to Liverpool and brought on David Santon. While Enrique has already impressed for the Reds, Pardew's new signing has yet to impress people at St. James Park.
The Villains have taken the role of Valencia this transfer window. They have sold out half of their squad to their Premier League rivals in order to make profits. But in the process, Alex McLeish has been left with a depleted squad lacking both quality and depth.
The Villains' only big signing, Charles N'Zogbia, will replace the departed Ashley Young and Stuart Downing. The effect of these departures has already shown, as Aston Villa have failed to impress in the new season thus far.
Moreover, the departure of Brad Friedel, Luke Young, Reo-Coker and John Carew has left Alex McLeish's squad wanting some fresh arrivals.
Villa are reportedly looking to make some deadline-day signings to cover for the departures and bolster their squad. If the deals are completed, Villa could fight for a Europa spot; otherwise, their chances are slim given the squad-bolstering their mid-table rivals have done these season.
The transfer window's biggest losers have been the Gunners.
They lost their two top midfielders without being able to sign able replacements. A lack of trophies led to the departure of Cesc to boyhood club Barcelona and Nasri to Premier League rival Manchester City.
These departures and Wenger's unwillingness to spend on experienced world-class players led to their worst start in last few years and worst defeat in more than a century. Moreover, the departure of first team defender Clichy led to a void in the Arsenal back four.
In response to severe criticism of his transfer policy, Wenger jumped into the transfer market in the last 48 hours. He has already addressed his team's defensive weakness with the signing of German star Per Mertesacker as well as the highly-rated Brazilian defender Andre Santos.
But even if these new signings prove their worth, the Gunners' still lost out on filling the void in their midfield.
Arsenal's failure to sign Arteta is likely going to cost them the season, as the likes of Wilshere, Park Chu-Young and the rest of Wenger's young brigade lack the temperament to last a whole season. Wenger's failure to address the lack of experience in his squad is surely going to harm the Gunners' title aspirations severely.
Arsenal will most likely end up with a loan deal for Chelsea's unwanted midfielder Yossi Benayoun. Given their squad's state it looks like a "something is better than nothing" kind of deal for Wenger.
Update: According to a team press release, Arsenal has signed Arteta in a last-minute deal for four years.