Arsene Wenger reportedly has the largest transfer kitty in the history of the club available at his disposal, and he has made the now usual comments about going in for a top, top player.
But he has also admitted that such players are a rarity. There is also a clamour among the fans, ex - Gunners and even current players, like Aaron Ramsey and most recently Laurent Koscieny to sign quality players.
But Wenger has so far been typically non-committal about any big name signing, apart from admitting interest in Wayne Rooney, with the question, "Who would not be interested in him?"
Rooney's capture, if it happens at all will not only boost the attack but also take the pressure of getting a big signing off Wenger. However, while other clubs have gone ahead and started their transactions, Arsenal again seem to be dormant. If they do not actually go ahead and make any signings how will it affect the team?
Arsenal finished last season strongly, unbeaten after the defeat at White Hart Lane. The run of successes was based on a new found resilience and spirit, epitomised by the Koscielny and Per Mertesacker’s solidity at the back. Mikel Arteta and Aaron Ramsey's industry in the centre of the park, and Theo Walcott's goals also contributed.
How much of that the current set of players can replicate, and even improve upon their performances of last season, will determine the club's fortunes next season.
Santi Cazorla has promised his burgeoning fans at the club that he will improve further next season, Jack Wilshere should have recovered from a minor surgery to his troublesome ankle, Walcott will look to continue his scoring form, and Olivier Giroud and Lukas Podolski can hope to be more at home, and thus be in better goal scoring form next season.
If the skipper, Thomas Vermaelen can rediscover his form it can only mean better competition for starting positions in defence. And, elsewhere, Alex Oxlade-Chamberlain has shown, with his goal for England at the new Maracana that he will be ready to push on and establish himself in the Arsenal line up.
Kieran Gibbs has shown in the latter half of the season that the presence of an established competitor in Nacho Monreal has only meant that he has taken his game a notch higher, and elsewhere Carl Jenkinson waits for Bacary Sagna to sort out his future at the club. And Arteta can be trusted to be as reliable as ever.
All these players, if fit and firing are good enough to bring back the lost glory for the Gunners. The back up is adequate, except the striker's position where it is non existent, apart from the option of playing either Podolski or Walcott there, if Giroud is not available for any reason.
It promises to be a season of optimism for the long-suffering Gunners' fans, with the team appearing, at least on paper to be good enough for a trophy. But, as is known, games and trophies are not won on paper.
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