With the growing prospect of box-to-box midfielder Cesc Fabregas leaving for Barcelona, the Gunners suddenly have more on their mind this summer than just adding a striker to partner with Robin van Persie, and a central defender next to Thomas Vermaelen.
Two big questions surround Fabregas's possible departure to Barcelona. How much will Arsenal receive? Is the deal contingent upon Samir Nasri leaving?
A midfield shakeup was very low on the list of priorities for Arsene Wenger. Following a disappointing 2010-2011 season, Wenger wanted to concentrate on upgrading two vital positions not overhauling a midfield that was a lone bright spot.
Instead, the summer has been filled with speculation of Fabregas finally leaving for the Catalans, Nasri's stalled contract extension talks, as well as the possible departure of Gael Clichy to Liverpool.
Meanwhile, Arsenal has yet to make a notable signing, unless you count left-back Carl Jenkinson's £1 million move.
Fabregas and Nasri have become a summer distraction, making other signings more difficult. Barcelona's £27 million offer for Fabregas was too low, and now Barcelona will have to put together another deal, and perhaps one involving attacker Thiago Alcantara.
Wenger prefers young players, and at 20, the Italian-born midfielder Alcantara fits that description.
Nasri has been rumoured to go to Manchester United, as Sir Alex Ferguson seeks a replacement for Paul Scholes. Ferguson shouldn't hold his breath for Arsenal to let their prize playmaker depart for Old Trafford. News of the World reported on Bayern Munich targeting Nasri at £30 million, but that was in May, and reports of new talks never surfaced.
Wenger wants Nasri to sign an extension or else Arsenal would need a major club - other than Manchester United - to make a bid. Should Nasri sign, expect the Fabregas-to-Barcelona deal to be expedited.
The newest player rumoured to be on his way to Emirates is attacking midfielder Ricardo Alvarez, of Velez Sarsfield. A deal appears to be imminent for the 23-year-old Argentine, according to Palermo owner and chairman Maurizio Zamparini.
We had a concrete interest and had the matter in hand in January. But we may have made a mistake in moving so quickly because he has now given us the slip and signed for Arsenal, Zamparini said.
However, the deal is not done, with Inter Milan looking to make a bid.
Central defenders Gary Cahill and Christopher Samba remain the two most coveted central defenders.
Arsenal reportedly have offers of £15 million for Cahill and £12 million for Samba. The Sun, however, reported last week that Tottenham would offer £17 million for Cahill.
There has been little recent talk of Alex Oxlade-Chamberlain of Southampton or Gervinho of Lille departing for the Emirates. The Daily Mirror had previously reported that Arsenal was set to sign Gervinho for £10.6m in the next 48 hours, back on June 17.
Wenger obviously has a lot to deal with, and almost seems in over his head.
Should Arsenal not get the reinforcements they need, expect calls for David Dein to return.