After the arrivals of Alexis Sanchez and Mathieu Debuchy, many thought that this spending spree would continue and Arsenal would invest in a top quality midfielder.
However, according to recent reports, Arsene Wenger is ready to place his faith in Jack Wilshere, and utilise him in a deeper lying defensive midfield role.
Arsene stopped spending?
It is believed that Arsenal had concrete interest in bringing one of Sami Khedira, Lars Bender, or Morgan Schneiderlin to the Emirates to fill a defensive midfield void that was recently left by Alex Song.
Talksport's Stan Collymore claimed Arsenal were in advanced talks to sign Khedira, whilst many other publications stated that the race for Khedira's signature was between Wenger and Jose Mourinho.
However, Khedira's wage demands seemed to be a problem, as Arsenal aren't prepared to pay the £200,000 a week he is asking for. That would make him the highest earner at Arsenal by a long distance.
Arsenal have been issued a hands off warning for Bender, whilst Schneiderlin never seemed to be Wenger's first choice. It seems he has decided that the price tag slapped on by Southampton is too much.
It remains to be seen if Wenger will spend any more after the expected capture of goalkeeper David Ospina from Nice.
It is possible that Wenger realised that a defensive midfielder would compromise the playing time of either Aaron Ramsey or Jack Wilshere, which would hinder their development.
Therefore, if Arsenal were to facilitate both players, then one would have to adapt to the defensive role. After the season Ramsey had last season, then the only option left is to move Wilshere's position.
What does this mean for Wilshere?
If this news is to be believed, then Wilshere will need to perform significantly better than he has done before. Wilshere will need to adapt tactically to Wenger's demands, and must be wise enough to hold on to the ball, and to not lose the ball too much whilst dribbling.
Wilshere is a fantastic talent, and in a way it is very surprising to see Wenger using him defensively, as he does offer a threat going forward.
Although his goal tally isn't that impressive, Wilshere is still only 22, and still has a lot of time to develop into a complete footballer to fulfil his potential.
Wilshere though, has to adapt physically as well. During matches last season, Wilshere has been knocked off the ball a couple of times, and he tends to stay down for a while, leaving Arsenal fans worried about his condition.
He has had a tough time with injuries since his career started, but if Wenger wants stability in his midfield, he needs someone who will most likely be there for the whole season.
Anyone can get injured, but if someone is as injury prone as Wilshere, then surely it won't hurt to examine the transfer market and purchase another defensive midfielder.