Arsenal came close to winning the Premier League last season, leading the title race for 248 days before imploding in the last few weeks to finish behind champions Manchester City.
Meanwhile, the Gunners remain interested in Ajax forward Mohammed Kudus. Elsewhere, midfielder Thomas Partey is firmly in manager Mikel Arteta's plans for the upcoming campaign.
On that note, here's a look at the key Arsenal transfer stories as on July 23:
Arsenal remain in Mohammed Kudus race
Arsenal still have Mohammed Kudus on their radar, according to transfer insider Ben Jacobs.
The Ghanaian forward enjoyed a fabulous season with Ajax and is now linked with a move away from the Johan Cruyff Arena. The Gunners have been linked with the 22-year-old for a while, but a move hasn't materialised yet.
Jacobs told Give Me Sport that a move could depend on outgoings at the Emirates:
"They are going to have some outgoings, so Kudus is not impossible. But the pitch to the player and Arsenal's own decision whether that's the right fit, and that's the right priority position is going to be key to whether they move," said Jacobs.
Arteta has bolstered his options in attack this summer by bringing in Kai Havertz from Chelsea.
Thomas Partey firmly in Mikel Arteta's plans
Mikel Arteta has confirmed that Thomas Partey will be at Arsenal beyond the summer. The 30-year-old is linked with a move away from the club this summer following the arrival of Declan Rice from West Ham United.
Speaking to the press, as cited by The Evening Standard, Arteta said that he plans to play Rice and Partey together
"Yes (Thomas Partey will stay). Thomas Partey is a super-important player for us, and, for me, and we want him to be in the team, that’s for sure," said Arteta.
He continued:
"(Him and Rice) can play together. That was in my plans – if you want to improve the squad and have more quality, we need players who can play together and need players in the same positions who have to fight for their places – it’s something we haven’t had in the last few years."
Arteta added that Partey is ready to continue his association with the north London side.
“We want to improve that, and that’s why we brought in Declan as well. Every time I spoke to (Partey) and had a conversation with him, he’s ready to stay with us. For me, there’s nothing there at all.”
The Gunners have offloaded Granit Xhaka this summer, but it appears that Partey is set to stay.
Gunners unlikely to pursue Romeo Lavia
Arsenal are unlikely to target Romeo Lavia this summer, according to journalist Dharmesh Sheth.
The Belgian midfielder remains heavily linked with a move away from Southampton this summer. Chelsea are hot on the heels of the 19-year-old, while the Gunners also admire the player.
However, speaking to Transfer Talk Podcast, Sheth said that only a departure from the middle of the park could force Arteta to turn to Lavia.
“Southampton’s Romeo Lavia is a name that will not go away, Chelsea have looked at him as well, and there has been talk about Arsenal, but I think Arsenal will only look into the midfield department and recruit again after spending over £200m if there is a departure for good money in that midfield,” said Sheth.
Lavia is likely to leave St. Mary's this summer.