The club are waiting in the wings for an opportunity to sign Julian Alvarez from Atletico Madrid. The Argentina international has reiterated his desire to leave this summer, and if a move to Barcelona fails to materialise, Arsenal would love to tempt the former Manchester City forward back to English football.
They are also open to new possibilities that may crop up - despite being determined not to let their business go all the way to the wire.
As Mikel Arteta prepares his team for a title defence, he is also preparing for the loss of a player who has been a significant part of his time at the club.
Galatasaray have made an approach for Gabriel Martinelli that tests Arsenal's stance on his future. The offer does not appear to be reflective of similar deals in this window, yet as Arsenal evolve, they are having to seriously consider the strength of every position.
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Galatasaray have made an offer of around £38.5 million for Martinelli - which is below the level Arsenal would ideally see him at in this market. The Gunners have not actively placed Martinelli on the transfer market this summer, but are open to the prospect of him leaving if the right offer lands.
Given the deals we are already seeing this summer, this latest approach is not aligned with deals we have seen for other top wingers.
At the very top of the market, Yan Diomande joined Real Madrid from RB Leipzig for around £120 million, while Morgan Rogers switched from Aston Villa to Chelsea for £117 million.
Even if you argue those deals are on a different level to anything Arsenal should expect for Martinelli, there are other transfers that sit closer to reflecting his standard.
Manchester City are currently holding out for £70 million for Savinho, as Tottenham try to sign him. Anthony Gordon moved to Barcelona from Newcastle for around the same amount. Crysencio Summerville moved from West Ham United to Al-Hilal for around £60 million.
Martinelli, the 25-year-old Brazil international, featured in the World Cup this summer and played 30 times for Arsenal in the Premier League as they went on to be crowned champions last season. He scored 11 times across all competitions.
However, Galatasaray know the Arsenal squad is undergoing changes and that they see an opportunity to get a good value deal.
The player is contracted to 2027, with an option for one more year, and there is a chance his value only dips during that time, particularly as there has been so much noise around Arsenal looking for upgrades in that area.
Arsenal's interest in Rogers before he joined Chelsea, and Vinicius Jr. before he signed a new contract, are indicators of that. So the offer from Galatasaray really does test the water as Arsenal make the final decisions on their squad for the new season.