That’s because no club is willing to pay the £40million asking price for Aaron Ramsey who is out of contract at the end of the season.
Ramsey was offered a new deal only for the Gunners to withdraw their proposal.
And that means the Wales international can talk to suitors from abroad in January.
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The BBC report that Ramsey will speak to Bayern Munich, Inter Milan, Juventus, Paris St-Germain and Real Madrid.
But with no major departures expected and the investment in recent window, Arsenal will only likely make loan additions.
Barcelona midfielder Denis Suarez, 24, is one player reportedly on the radar of Unai Emery.
Calum Chambers and Reiss Nelson could also be recalled from loan spells to bolster Arsenal’s ranks.
Former Gunners ace Ray Parlour believes the defence is the area which must be strengthened following the 5-1 hammering by Liverpool at the weekend.
“I couldn’t see Arsenal winning, I really couldn’t,” Parlour said of the Liverpool clash on talkSPORT.
“I couldn’t see them getting a point. We all know the problems, defensively they’re just not good enough.
“All over the place at the back, they’ll always give you a chance.
“It was a real shock for me when they went 1-0 up. I was like ‘wow, maybe we’ve got a chance of nicking a point here’.
“But all of a sudden, bang, bang, bang – you’ve lost the game.
“I played with so many good defenders that were playing for Arsenal. They had two teams really.
“When we had the famous back four of [Nigel] Winterburn, [Lee] Dixon, [Tony] Adams, [Steve] Bould, [Martin] Keown and then you had Sol Campbell come in, Lauren, Ashley Cole.
“All four positions they’ve got to look at.
“Defensively, if you’re going to concede goals like that, you’re never going to have any chance of trying to win the league.
“And that’s where Liverpool have won it, if they do win it, is defensively.”
Arsenal will look to return to winning ways on Tuesday when they host Fulham (3pm).