With a crucial last match of the campaign to come at West Brom on Sunday, Arsenal's fate for next season hangs in the balance. A win and the Gunners will be celebrating Champions League qualification for the 15th consecutive season. But anything less and Arsenal will be desperately tuned to results elsewhere.
The outcome of Sunday's fixtures is likely to have a significant impact on Arsenal's transfer business for the summer. There has been speculation that the purse strings will be loosened at the Emirates this year, but that would seem unlikely if the club miss out on the financial boost that Champions League qualification brings.
Perhaps the signing most dependent on Arsenal's participation in Europe's top competition next season is that of Rennes defensive midfielder Yann M'Vila. Indeed the Daily Telegraph reports on Tuesday that the club is close to securing the Frenchman in a club record £17.7 million deal, with the caveat that Champions League qualification is secured. M'Vila has long-been identified as one of manager Arsene Wenger's main targets this summer and the Telegraph claims that Rennes has now accepted that the international will be departing this summer.
According to the Daily Mirror, however, M'Vila will discuss a potential move with Arsenal as well as fellow suitors Inter this week. While the 22-year-old is unlikely to be unduly deterred by the absence of Champions League soccer, the club would surely be unwilling to sanction such a large fee in those circumstances.
Another star long-linked with a move to Arsenal is defender Jan Vertonghen. The Mirror reports that the club still maintains an interest in the Ajax 25-year-old, despite recent stories strongly linking him with a move to rivals Tottenham. Manchester United is also said to be interested.
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If Arsenal fail to make the Champions League then the club could well look for more financially prudent options to enhance their squad.
One such target could be Alessandro Del Piero. The Italian veteran's contract with Juventus expires this summer, meaning he would be available for no fee, though likely would command a significant salary. The 37-year-old is widely expected to leave the newly-crowned Serie A champions at the end of the season, with Arsenal one of the clubs said to be interested, according to TalkSport.
At the other end of the age scale, TalkSport has also reported that Arsenal is set to lose out in the race to sign Peruvian striker Andy Polo. The 17-year-old, currently at Universitario de Deportes, has reportedly elected to join Serie A side Genoa for around £4 million.