If it's anything like the summer where more than £200million was spent to recruit Kai Havertz, Declan Rice, Jurrien Timber and David Raya (loan) whilst around £70million was recouped by letting the likes of Granit Xhaka, Matt Turner and Folarin Balogun depart then another busy period is in store,
Talk of potential incomings rarely stops when it comes to a team like the Gunners as they've been linked with a host of names ranging from Brentford striker Ivan Toney, Aston Villa midfielder Douglas Luiz to Andre Onana of Everton and Bournemouth's Dominic Solanke.
With Arsenal looking forward to a Champions League knockout round tie against Porto in the new year, manager Mikel Arteta will need to ensure he has a squad that can challenge in Europe as well as last the distance in the Premier League title race and go deep in the FA Cup.
Now, following an outlay of more than £200million in the summer, the north London outfit have to be wary of not breaching any financial fair play (FFP) rules especially when considering Everton have been hit with a 10-point deduction - subject to appeal - after falling afoul of the new profit and sustainability rules (PSR).
Although, when considering all the transfer rumours, what would be Arsenal's best line-up under Arteta after the January transfer window closes on February 1 if sporting director Edu Gaspar - in a dream scenario - was able to dip into the market and seal a deal or two?
Despite links to Sporting CP defender Goncalo Inacio, there's a strong argument that Arsenal do not need another central defender. Of course, things will change if one of William Saliba or Gabriel Magalhaes go down injured or Jakub Kiwior is allowed to leave in search of regular first-team football.
With no real links to a full-back, perhaps Arteta and Edu have a surprise up their sleeve in January. However, similar to the central defensive department, should a signing be made in this area, it's difficult to see that player starting in Arsenal's best possible team during the second half of the season.
Moving onto midfield and there's a lot of talk surrounding Thomas Partey leaving and a replacement being signed to partner Declan Rice in the engine room. As revealed by football.london, Arsenal remain interested in Real Sociedad's Martin Zubimendi, although a January move remains unlikely at this stage.
Not only has the Spain international not expressed no desire to leave the La Liga outfit, but the Txuri-Urdin's progression to the Champions League round of 16 may also well have hardened that stance. Although if the £53million release clause is activated, that allows talks to be opened so perhaps there's a chance he completes a midfield trio with Rice and Martin Odegaard in the Gunners' best line-up - although that would be slightly harsh on Kai Havertz.
The general feeling among many observers is a different profile of striker to Gabriel Jesus can fire Arsenal to the Premier League title. But with links to Toney and Solanke going quiet in recent days, the name on everyone's lips is Victor Osimhen. Problem is - and there are many - is he's just signed a new contract with Napoli so a January deal looks unlikely.
According to reports, the Nigeria international now has a release clause between €120million and €130million (£104million and £112million) but the Gunners would have to sell a couple of players to raise those funds and even if things fall into place, they may not be able to call upon the striker until mid-February depending on how the Super Eagles fare at the Africa Cup of Nations.
Make no mistake about it though, if Arsenal were somehow able to sign Osimhen in the January transfer window, once back from AFCON he would immediately command a place in the forward line and most likely at the expense of Jesus.
Arsenal's dream line-up after the January transfer window if Edu completes two deals: Raya; White, Saliba, Gabriel, Zinchenko; Zubimendi, Odegaard, Rice; Saka, Osimhen, Martinelli
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