Arsenal ended the 2016/17 season on a high after they claimed the FA Cup trophy – but there is plenty of work for the Gunners to do to become league challengers.
Arsene Wenger signed his two-year deal last month, so now the club can start planning how to break back into contention domestically on a more regular basis, as well as figuring out how to squeeze themselves back into UEFA Champions League action.
Let’s take a look at where the north Londoners should look to splash the cash and who they should be pursuing over the summer months.
Striker – Aguero, Lacazette or Mbappe?
Unquestionably, if Arsenal want to challenge properly on more than one front, they need a 20-goal-a-season star.
Olivier Giroud had his moments during the previous campaign, but despite how loyal a servant he has been to the club, Arsenal really need to break the bank and bring in someone who can be relied on – against minnows and big guns.
Kylian Mbappe will only be torn away from AS Monaco with a £100-million-plus bid, and while Mbappe would slot right in at the Emirates Stadium, it’s looking more likely that Alexandre Lacazette or Sergio Aguero will be more affordable.
Also read: 5 reasons why Kylian Mbappe should sign for Arsenal
Aguero looked out of favour for large spells at Manchester City last season and Sky Sports’ Paul Merson feels that the Argentine would work well in the red and white of Arsenal, while £35 million is being sounded out by some reports as being enough to lure Lacazette away from Olympique Lyonnais.
Both men would be excellent reinforcements and would bring ready-made goals to the club. All that remains to be seen now is if Wenger will have the authority to spend big or if he’ll go hunting for a bargain buy as per usual.
Attacking midfielder – James Rodriguez?
With Alexis Sanchez drifting closer and closer to the Emirates exit door with every passing day, Arsenal will need to snare the perfect replacement.
The Chilean international has regularly been Arsenal’s knight in shining armour for the last few seasons, and many are hinting that Real Madrid’s James Rodriguez would be the ideal replacement for such a top-quality star.
James was underused by Los Blancos throughout the 2016/17 season, becoming something of a bit-part player.
The 2014 World Cup ‘Goal of the Tournament’ winner needs more minutes to showcase his full potential, and he has not been getting those opportunities at the Santiago Bernabeu, but a move to London in the Premier League would afford him plenty of chances to get back to his best and become an integral part of a big team once again.
His range of passing, coolness in possession and eye for long-range goals would all be excellent extra attributes for Arsenal to boast of and securing Rodriguez, although certainly not a like-for-like swap, would send out a signal that the Gunners are gunning for glory and willing to bring in the best of what’s available in the transfer market.
Centre back – Varane or van Dijk?
Make no mistake, Arsenal missed Per Mertesacker last season – the excellent German centre-back is one of the best defenders on the planet, but when injury struck him, it looked as though Arsenal were a completely different team; they looked a lot more vulnerable at the back
Some have highlighted the positive introduction of Rob Holding as cover for the experienced Germany international, but even still they could do with greater cover should more injuries arise – plus, the likes of Southampton’s Virgil van Dijk or Real Madrid’s Raphael Varane would be far more assured options.
Also read: 5 players who can help Arsenal win the Europa League next year
Both of those players, who have been linked with Arsenal in recent days, boast exposure to a high level of football and are attainable at the right price.
With Liverpool out of the running for van Dijk, Arsenal could snap him up soon.
Sky Sports pundit Charlie Nicholas believes either player would be ‘ideal’ for Wenger – time will tell if they can get their man.
Goalkeeper – Jordan Pickford?
Arsene Wenger is expected to sell a couple of his goalkeepers this transfer window - and Sunderland's Jordan Pickford could be the perfect replacement for both David Ospina and Wojciech Szczesny.
The Sunderland custodian is a top shot-stopper and produced a number of excellent saves last season as he stood out in a dismal Sunderland Premier League campaign which ultimately saw the Black Cats relegated.
The Chronicle has suggested that Arsenal might have to fork out as much as £30 million for the England international if they want to secure his services ahead of next season.
It might seem a little pricey for such a young goalkeeper, but Pickford is one of the country's rising stars and is widely tipped to become a regular senior national team player in just a few short months' time.
Pickford has all the necessary attributes to become a cup regular for the Gunners - he has remarkable reactions, great reach and is used to getting his defence out of trouble with last-gasp saves. Arsenal might just need to bite the bullet and invest in him before his price skyrockets or a rival club snap him up.
Right back – Thomas Meunier?
If reports linking Hector Bellerin with a move to Barcelona are to be believed, Arsenal need to snap up an excellent replacement.
The Gunners are at risk of losing their first-choice right back to the Copa del Rey champions, but there are plenty of suitable replacements available on the open market - including Paris Saint-Germain full-back Thomas Meunier.
A decision on Bellerin's future isn't due until next week, but even if the 22-year-old Spaniard doesn't leave, Arsenal need someone of better quality than Mathieu Debuchy and Carl Jenkinson if they are to be competitive on more than one front next season.
Meunier is used to playing second fiddle, having made only 18 Ligue 1 starts last term for PSG, and with the Belgian entering his prime, at 25 years of age, he could be the sort of quality the north London club need.
For club and country, he racked up seven assists last term, he has pace and is vastly experienced already - Arsenal would be wise to pursue him.