Is Arsenal’s transfer policy going to lead them to another trophy-less season?

With the January transfer window in full swing amidst rumours coming out of the Arsenal camp of their inability to splash the cash in strengthening some of their key forward positions, Mikel Arteta and Arsenal now stand at crossroads of another season faltering away without any signs of silverware gracing the Emirates Stadium. 

Now in his sixth season with the North London club with as many as 30 signings made throughout his time at Arsenal, fans are now questioning whether Arteta and his men can really cross the line and bring glory to the club without key additions to their forward line in spite of a large section of the club calling for reinforcements since the start of the 2024/25 summer transfer window. 

In his last two seasons, Arsenal under Mikel Arteta have come very close to winning their first silverware since the club won the FA Cup during the Spaniard’s first season. Despite boasting a strong defensive unit and scoring just four goals less than Manchester City in the league last season, the feeling among the Arsenal faithful was that they needed a top marksman to win those key encounters that were otherwise going the other way. 

Defeats against the likes of West Ham United and Fulham in the league last season where the team was thoroughly dominant but failed to capitalise on any of their big chances produced or the defeat against Liverpool in the FA Cup third round where Jürgen Klopp’s team were hanging on for dear life before two clinical goals on the counter resulted in Arsenal’s ultimate demise are few but notable games which could have resulted in an entirely different narrative for the Gunners. 

Since Mikel Arteta took over the reins of Arsenal in December 2019, the Gunners have spent ~€783 million on player transfers (including loans and free transfers). However, in that time, the Gunners hierarchy – Arteta included – have only signed five forwards for a total sum of €151 million (including the free transfer of Willian and the loan deal of Raheem Sterling this season). 

With the likes of Pierre-Emerick Aubameyang and Alexander Lacazette falling out of favour with Mikel Arteta and consequently leaving the club as free transfers, the Spaniard initially brought in Manchester City outcast Gabriel Jesus for €52 million during the summer of 2022. The following window, Leandro Trossard joined the Gunners on a meagre €24 million deal with the much maligned Kai Havertz becoming the next acquisition in the summer of 2023 for €75 million. 

While all three forwards have their own unique skillsets and have improved the Gunners in their own unique ways, not one of them can be considered as consistent out-and-out goalscorers. Despite his shortcomings, it is Havertz who has emerged as the most potent among the three, having scored 16 goals and provided 10 assists in his 36 appearances as a striker. 

Stats since joining the club

That being said, not one of them has what it takes to score 30 or 40 goals a season for the Gunners. 

In recent times, the likes of Alexander Isak and Victory Gyökeres have been linked with the club, however, the club has been reluctant to pay the heavy transfer fee that will be needed to close the deal. Both Isak and Gyökeres have been excellent for their respective clubs this season and will improve the Gunners immensely. But the club’s reluctance to splash the cash can prove detrimental to their chances of winning any silverware this season. 

Moreover, Arsenal and Arteta have been heavily reliant on Bukayo Saka ever since the 23-year-old became a mainstay in the club. His hamstring injury followed by a surgery means the England international will be ruled out for at least until February and with the busy fixture schedule, the club needs a back-up signing and they need it fast. 

Arsenal have been linked with Brentford’s Bryan Mbuemo, however, reports from major news outlets suggest the Gunners can only pursue this deal during the 2025/26 summer transfer window.

Like Mbuemo, Arteta’s pursuit of compatriot Nico Williams has hit a similar road-block. Having failed to secure his services during the summer window, according to The Athletic’s David Ornstein, it is highly unlikely that Arsenal will make a bid for the Athletic Bilbao man with both his €60 million release clause and €350,000-a-week wage demands proving to be too much for the North London club. 

As an alternative to Williams, Marcus Rashford has emerged as a cheaper option, rumoured to be available for as low as €25 million. However, the 27-year-old, since his exceptional campaign during Erik Ten Hag’s first season –30 goals & 9 assists in 56 games – has been on a downward spiral before finally getting the boot under new manager Rúben Amorim. 

If Arteta can ignite that form, Arsenal and their fans will surely have a player at their hands but like always there is a big IF with the England international. Moreover, with reliable sources like the Swiss Ramble publishing in his reports that the Gunners can afford as much as €195 million in loss this season, which in simple terms means a deal as big as Declan Rice’s deal is affordable. 

It makes most Arsenal fans question whether the Arsenal hierarchy really want to compete with the biggest clubs in Europe or whether they are just happy being up there and just competing. For Arsenal to walk among the big boys and even beat them, they need to start acting like one. 

For all of Arteta’s process in bringing Arsenal to where they are now. The current situation is reminiscent of Arsené Wenger’s early Emirates Stadium days, where the club was always one player short from winning major honours, a player that never arrived.