After signing Sead Kolasinac and Alexandre Lacazette, Arsenal have not brought any new players into the squad and made a stuttering start to the season.
But there is considerable interest in several of their players which could leave to exits before Thursday’s deadline.
Arsenal have agreed a £7million fee with Watford for Kieran Gibbs and only personal terms are left to complete.
Alex Oxlade-Chamberlain, Shkodran Mustafi and Lucas Perez could also leave in a mass Arsenal exodus.
However, the Telegraph claims those players won’t be replaced by Arsene Wenger.
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The report says should Mustafa complete his move to Inter Milan, Wenger believes he has enough cover defensively in Laurent Koscielny, Per Mertesacker, Rob Holding, Calum Chambers, Nacho Monreal and Sead Kolasinac.
In attack, Wenger is happy to let Perez leave after just one season.
Oxlade-Chamberlain, who has interest from Chelsea and Liverpool, is refusing to sign a new contract despite being offered around £180,000-a-week.
Thomas Lemar and Virgil van Dijk are mentioned as possible targets but Arsenal feel they their chances of signing them will be better in January or next summer.
On Friday, Wenger said he was happy with the players he has and is willing to give young talent a chance.
Wenger said: “I’m happy with the strength of the squad. I’m completely happy with the strength of the squad.
“I have said many times that we have too many players in our squad, and some of them have no chance to compete for places because we have too many. Too much competition for places is no good as well because the players have no chance of playing.
“On the other hand, one of the values of this club is to give a chance to young players who deserve it. If you have too many players of confirmed status, you’re in a difficult position to give a chance to young players. We have the luck of having three or four players who are top quality and deserve a chance.
“Both can happen. It depends how many players will go to see if we can bring one more in. We are on alert in the last seven days.
“Everybody gets agitated and phones ring more often than before. Sometimes you have to share the work in the final day because you have some cases going out and some coming in. The last two days are always very hectic.”