However, despite spending £105m on Declan Rice and £65m on Kai Havertz, the Gunners look as though they're still a midfielder short.
Specifically, they need someone to successfully fill the void left behind by Granit Xhaka in the left 8 role.
Douglas Luiz looks tailor-made to fill that hole, although they could sign a more defensive-minded player to free up the aforementioned Rice. A certain Arsenal-linked Amadou Onana would suit that mould perfectly.
However, there is another midfield player on Mikel Arteta's shortlist.
Arsenal's hunt for a new midfielder
Reports in recent days have ramped up suggesting that Real Sociedad star Martin Zubimendi could be the pick to come in from a midfield point of view.
However, the notorious David Ornstein name-dropped a different player in a report at the back end of last week.
He took to social media to reveal that Leicester City's Kiernan Dewsbury-Hall was an admired player, although they face plenty of competition for a signing that could set them back £30m.
How Dewsbury-Hall compares to Aaron Ramsey
Dewsbury-Hall has risen up the ranks to become one of the most highly-rated English midfielders not to have won an international cap over the last 18 months or so.
It was during the Foxes' relegation campaign in 2022/23 that we started to see more of him with the 25-year-old featuring in 31 league games, scoring twice and also recording two assists.
Dewsbury-Hall-Leicester-City
It's taken a drop down to the Championship for the Leicester star to really explode onto the scene, emerging as a real presence in the attacking phases of play.
Enzo Maresca's side are currently top of the second tier as they pursue an instant return to the top flight and Dewsbury-Hall has been an immense presence, scoring nine goals and and registering nine assists across 27 outings.
It's a fabulous return for a player who has been a "revelation" in the words of Brendan Rodgers over the last few years.
It's that goal-scoring form from deep that could draw comparisons to Aaron Ramsey, a scorer of 16 goals in the 2013/14 season, but there's more than just that forward-thinking nature where similarities are drawn.
Dewsbury-Hall vs Aaron Ramsey
Stat (per 90 mins)
KDH - 23/24
Ramsey - 18/19
Goals
0.36
0.27
Assists
0.36
0.41
Shots
2.31
2.23
Pass Success
78%
81%
Key Passes
2.91
1.69
Passes into final 3rd
3.28
3.45
Progressive Passes
6.28
5.95
Goal-creating Actions
0.81
0.68
Tackles Won
0.97
1.22
Touches
63.7
65.7
Take-on Success
52%
52%
Carries into final 3rd
2.47
2.84
Stats via FBref.
So, although Dewsbury-Hall is ahead for goals in the two seasons we've compared here, they complete passes at a similar rate, play a comparable level of progressive passes into the final third and win tackles at a likeminded rate.
On the evidence of the above, both are your typical box-to-box midfielder, capable of influencing play from deep but carrying the ball superbly well into the attacking phases of play.
Aaron Ramsey
Having scored in two FA Cup finals, Ramsey is seen as a hero in north London. The Leicester star, therefore, would have a lot to live up to if he moves to the Emirates Stadium but if he continues scoring goals at a similar rate to this term, he will fit in seamlessly.
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