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Despite their desire to strengthen, bids being tabled and a clear list of targets, Arsenal ended the January transfer window without making a single signing.
Mikel Arteta’s side are, once again, in the thick of a Premier League title race and one of the favourites to go deep in this season’s Champions League, but decided against strengthening a squad which has appeared stretched at points in the campaign.
Arsenal’s dry January window was not the exception -Chelsea and Liverpool both also opted not to make notable signings – but it is most certainly a gamble.
The reasoning behind that decision, however, does speak to a number of factors – both on and off the pitch – that have evolved not only over the last month but also throughout Arteta’s time in charge.
Top targets unavailable
Arsenal’s list of top targets has been known for quite some time.
Benjamin Sesko and Alexander Isak are both highly admired and seen as potential solutions to Arsenal’s lack of a true centre forward but both were unattainable this window.
Newcastle remain steadfast in their desire to keep hold of Isak despite interest and were never going to entertain the possibility of letting him go in January.
A British record fee could still be required to required to prise the Swede away from St James’ Park in the summer.
Sesko, meanwhile, turned down a move to the Premier League in the summer and wanted to wait until the end of the season before reassessing his options at RB Leipzig.
A late bid for Ollie Watkins came as something of a surprise, but a difference in valuation as well as Jhon Duran’s departure to Saudi Arabia ultimately stopped a potential deal in its tracks before the wheels could even get in motion.
11th-hour talks with Athletico Bilbao for Nico Williams were also reported, but Arsenal instead opted to keep their powder dry for this summer perhaps knowing they will need plenty of financial muscle to fend off rivals for their main targets.
Emergence of Lewis-Skelly and Nwaneri
While a centre forward has often been seen as the main target, injuries and a stretched squad could have forced Arsenal to consider emergency additions in January.
Ben White’s long-term injury and Riccardo Calafiori’s fitness issues left the Gunners short at full-back, while Bukayo Saka’s absence left a major hole in the team on the left wing.
But in both cases, Arsenal turned to their academy rather than the market and have seen their issues largely resolved by the emergence of two more talented youngsters.
Myles Lewis-Skelly has slotted in seamlessly at left-back and even appears to have unseated Calafiori as the first choice in the role, while Nwaneri, finally been unshackled by Arteta, has flourished with his technical prowess and eye for a goal off the left flank.
Fixture congestion easing
Arsenal’s problems with injury have, perhaps unsurprisingly, not been helped by the hectic schedule around Christmas and the New Year.
But having been knocked out of the FA Cup by Manchester United in the third round, Arsenal face a rare weekend off and a chance to take stock.
Arteta’s side plan to put the mini-break to good use and will again head to Dubai for a warm-weather training camp following their Carabao Cup semi-final second leg against Newcastle on Wednesday.
Combined with their automatic progression to the Champions League last 16, Arsenal perhaps felt they could afford to welcome back players from the treatment table rather than look for solutions in the final days of the window.
Patient transfer approach
Arsenal’s reserved approach to January also speaks to a wider-held preference within the club for longer-term planning over short-term risks.
Financial wariness and concerns over PSR rules also played their part but the north London club adopted a similar approach last January, opting against mid-season additions after the big-money signings of Kai Havertz and Declan Rice the summer prior.
A move for Bayern Munich forward Mathys Tel was a possibility on deadline day, but Arsenal eventually opted against it, reportedly not believing the Frenchman would prove an immediate upgrade to their squad.
But that is also not to suggest that the club have been twiddling their thumbs this month.
Reports suggest that a deal to sign Martin Zubimendi is all but agreed for the summer, with Arsenal seemingly nipping ahead of Liverpool and Manchester City to recruit the talented Spanish midfielder.
The Gunners are also hard at work to convince talented Norwegian midfielder Sverre Nypan to join ahead of next season despite interest from City.
Whether that cautious approach will ultimately leave them short in the title race once again remains to be seen, but Arsenal seem content to roll the dice.
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