It has been yet another transfer window of ifs, buts, maybes and what could have been for the Gunners.
At the beginning of each summer, Arsenal are linked with a big money superstar to get the fans excited. However, the cynic says this is a way to appease their worries and ensure a steady stream of season ticket sales.
More often than not, this superstar signing fails to come to fruition and despite breaking their transfer record to sign striker Alexandre Lacazette, it’s not the Kylian Mbappe or Thomas Lemar they were dreaming of.
However, Arsenal kept hold of their star players, but does that mean it was a successful window for Arsene Wenger’s side?
RealSport grade their summer transfer window.
1 Sead Kolasinac
Joining as a free agent from German side Schalke, Kolasinac was brought in to fix a problem area for the Gunners. The club have needed a left back for a while, with Kieran Gibbs out of favour and Nacho Monreal not able to fill in at left wing-back.
The Bosnian international registered seven assists from left-back last season in the Bundesliga and was named in the team of the season, despite superstar David Alaba playing in the same league.
He is already something of a cult hero at the Emirates with his battering ram style of play from left-back, and scoring on his debut in the Community Shield victory over Chelsea.
He looks a great signing for Wenger, however he must play regularly in his preferred position to get the best out of the 24-year-old.
2 Alexandre Lacazette
Finally, Arsenal look to have a striker worthy of replacing Robin Van Persie. The Frenchman broke Arsenal's record transfer fee, but the Gunners now look like they have a striker good enough to lead the line at a top European club.
The former Lyon star is a fox in the box and a ruthless finisher. Lacazette is a genius at being in the right place at the right time.
However, the striker is also excellent outside the box and has the touch, composure and all-round class to help build attacks, and then finish them off.
Why Wenger dropped him to the bench for the game against Liverpool is mind-boggling.
At one point, Arsenal had 35 players in their squad, so a major trimming down was very much needed. It saw academy graduate Kieran Gibbs leave to join West Brom for only £7m, as well as young star Chris Willock depart for Portuguese giants Benfica.
Perennial goalkeeper Wojciech Szczesny has finally left on a permanent deal to Juventus for an undisclosed fee, thought to be around the £13m mark.
A number of players on the fringes of the squad have left on loan including Carl Jenkinson, Joel Campbell and Lucas Perez. However, the major departure came in the form of the £35m sale of Alex Oxlade-Chamberlain to Liverpool.
The versatile midfielder has flitted in and out of the Arsenal side in recent years, yet to hold down a permanent position in the team. However, the Gunners were still desperate to keep him, offering a new contract with wages of £180,000 a week which 'the Ox' turned down.
Chelsea has also agreed a fee with Arsenal for his services, however the former Southampton player had his heart set on joining Jurgen Klopp's Liverpool.
Have Arsenal missed anything?
It has been a chaotic summer for the Gunners. They have seemingly made two excellent additions in Lacazette and Kolasinac, but more needed to be done.
There are still huge doubts over the futures of their superstars Mesut Ozil and Alexis Sanchez, with both failing to sign a new contract and allowed to leave on a free next year. A massive mess to find themselves in.
Arsenal desperately needed at least one new centre-back who can organise the backline, as well as a midfielder who is tactically disciplined and will deny the opposition space in front of Arsenal's shaky defence.
Instead, Wenger was desperate to target yet more attacking flair and the failure to get Thomas Lemar over the line, despite an extraordinary £92m offer on deadline day will annoy fans.
RealSport verdict: D+
Arsenal is in a great deal of mess and a lot of that is down to the way the club operates in the transfer market, which comes from the boardroom.
A number of key players have less than a year left on their contracts, meaning a flurry of first team stars could leave the club for nothing.
The indecision surrounding the club right now is poisonous and the signings of Lacazette and Kolasinac, albeit very good players, are not enough.
Worrying times for Arsenal indeed.
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