And things are starting to take shape off it, as well.
Willian has officially arrived from Chelsea as the Gunners prepare for next season with hopes of rejuvenating their squad, although the financial uncertainty and staggered season-end dates for clubs mean there is an added level of disarray.
However, Arsenal are hopeful of concluding a few deals this summer, alongside potentially moving on a few of their current first-team squad.
We look at all the latest transfer news surrounding the club.
U-turn on Maitland-Niles
Arsenal have reversed their decision to offload Ainsley Maitland-Niles this summer and will instead offer him a new contract.
The versatile Maitland-Niles put in a Man of the Match display against Liverpool in Saturday’s Community Shield clash and has now prompted a rethink at the Gunners.
The 23-year-old had been strongly linked with a switch to Wolverhampton Wanderers but now may be offered a new contract and a chance to establish himself at Arsenal.
Gunners to raid Brentford for duo
Arsenal are considering a double move for Brentford winger Said Benrahma and goalkeeper David Raya, reports 90min.com.
It is claimed the club have identified Spaniard Raya as an ideal replacement for Emiliano Martinez, who may leave north London this summer, having starred in the Championship this campaign. Raya would act as a number two to Bernd Leno.
Aouar ‘wants’ Premier League move
Arsenal are reportedly interested in signing Lyon star Houssem Aouar this summer and the midfielder is said to be keen on a move to the Premier League.
The 22-year-old starred for his club on their run to the Champions League semi-finals and while he is open to a move, no club is yet to meet his transfer valuation.
Italian transfer guru Fabrizio Romano tweeted: “For sure he (Aouar) wants to move to EPL! But no one has offered €60m yet.”
Gabriel drops Arsenal hint?
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Arsenal are said to be closing in on a move to sign defender Gabriel Magalhaes from Lille and he may have dropped a hint over his destination on Instagram.
The central defender left a comment under David Luiz’s video of his successful spot kick in Saturday’s Community Shield victory over Liverpool.
Reacting to Luiz’s video on Instagram, Arsenal target Gabriel said: “I was nervous, brother.”
Of course, the two may be familiar due to their Brazilian connection but Gunners fans may believe there is a deeper meaning behind the words.