Despite the moderate success of Kai Havertz in the number nine role last season and the presence of Gabriel Jesus, albeit an injury-hit Jesus, Arsenal were heavily expected to enter the striker market in the most recent window.
After witnessing RB Leipzig's Benjamin Sesko sign a new contract in Germany and deciding against pursuing Ivan Toney - who has now joined Al-Ahli from Brentford - Osimhen apparently emerged as a potential target.
Napoli and Osimhen were keen to part ways all summer, but the Gunners were just one of a handful of top clubs pursuing the former Lille man, a list of suitors that also included Chelsea and Paris Saint-Germain.
However, Arsenal were not prepared to pay over the odds for Osimhen, having already smashed their transfer record on the £105m capture of Declan Rice in 2023, and Fabrizio Romano reports that they vetoed a summer deal for the striker for that reason.
Arsenal 'were offered' Osimhen - why did they turn him down?
Arsenal 'offered chance' to sign Osimhen in June
Romano claims that the Premier League giants were offered the chance to bring the striker to North London at the start of the transfer window in June, but Napoli demanded that they paid his release clause in full.
That would have seen Arsenal spend at least €120m (£101.4m) and potentially as much as €130m (£109.8m) on the Nigeria international, as well as making him their highest-paid player with a monster financial package.
As a result, Arsenal quickly decided not to pursue a deal for Osimhen, as they were only open to spending up to €60m (£50.7m) on an attacking target if the right opportunity arose.
With Arsenal out of the picture, Osimhen was at the centre of a frantic deadline-day saga involving Chelsea and Al-Ahli, the latter of whom agreed a fee with Napoli but never got the final green light from the player.
As Al-Ahli swooped for Toney instead, Osimhen was offered a shock lifeline by Turkish side Galatasaray, one that he immediately took as he joined the Turkish giants on loan for the 2024-25 season.
Osimhen to Arsenal: Is there hope for the future?
Galatasaray unsurprisingly do not have the option to sign Osimhen on a permanent basis next summer, meaning that the 25-year-old is set to return to Napoli ahead of what promises to be another window of unrelenting speculation in 2025.
The Nigeria international is not in Antonio Conte's plans whatsoever, as evidenced by the new Partenopei head coach bringing in old favourite Romelu Lukaku and banishing Osimhen from the first-team ranks.
Before Osimhen boarded the plane to Turkey, the striker agreed to a new contract with Napoli with a reduced release clause of €75m (£63.4m), one which makes him much more affordable for Arsenal next summer.
A new centre-forward may very well be at the top of Mikel Arteta's agenda for 2025 if Jesus's injury problems show no signs of easing, and Arsenal's name will almost certainly be mentioned when the rumour mill begins to swirl.
Osimhen's wages remain a sticking point, though, and he would surely need to take a massive pay cut if he is to line up as Arsenal's number nine for 2025-26 and beyond.
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