Arsenal have now completed seven transfers this summer with the departure of Takehiro Tomiyasu after the defender's contract was terminated by mutual consent.
Five other players have left the club already this summer - Neto and Raheem Sterling returning to parent clubs Bournemouth and Chelsea respectively, Kieran Tierney departing for Celtic, Jorginho going to Flamengo and Thomas Partey exiting following the expiration of his contract.
Only one new player has come in with Kepa Arrizabalaga arriving to challenge David Raya for the No.1 jersey in a £5million deal from Chelsea.
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While the Gunners' Premier League title rivals have made some big moves already, it has been slow and steady, at least on the incoming front, for Arsenal.
So what business still needs to be done? football.london takes a look.
OutgoingsLet's start with the outgoings as there could be more and that will leave Arsenal needing to do even more business in the transfer market later on.
According to transfer guru Fabrizio Romano, Leandro Trossard has just signed with a new agency, with the Belgian now represented by DH Sports & Entertainment Agency.
That could well be a hint about his future, with the change in agents' perhaps pointing to the forward looking at his options moving forward.
Oleksandr Zinchenko is another who has been linked with an exit from the Emirates Stadium, with the Ukrainian linked with a move to Borussia Dortmund. He has one year left on his contract at Arsenal and if he does not leave this summer will leave on a free next season.
Gabriel Martinelli is another wanted man, with Al-Nassr in the Saudi Pro League interested in a deal to sign the Brazilian.
IncomingsThere are likely to be plenty of incoming transfers, we've just had to wait some time for them to be confirmed.
Martin Zubimendi will join the club in a £55million deal from Real Sociedad, with Christian Norgaard also expected to arrive in north London for a fee of around £15million.
Cristhian Mosquera is likely to be the defender signing, for around £17million, with Arsenal still working on a deal to sign a striker - Benjamin Sesko and Viktor Gyokeres are the two most likely candidates.
Then there's the winger situation. Rodrygo has been heavily linked with a move to Arsenal from Real Madrid, although that may depend on Martinelli's situation.
With Tomiyasu already gone and Zinchenko potentially leaving, Mikel Arteta may look to sign two defenders, rather than just Mosquera, so there is still plenty of work to be done.
Squad situationHaving seen six players depart already, and one come in so far, Arsenal's squad size currently stands at 17 - plus two youngsters in Myles Lewis-Skelly and Ethan Nwaneri.
Arsenal named a 22-man squad last season - three fewer than they were able to name - with those two youngsters regularly in the first-team on the U21s list.
The squad, unless there are other young players likely to make the step up - Max Dowman potentially - is therefore very thin when you have the Champions League as well as the Premier League to deal with.
If Zinchenko, Trossard and Martinelli were also to leave, the squad number would drop down to 14 plus two.
Zubimendi, Mosquera, Norgaard, a striker, a winger and potentially another defender would take the squad size back up to 23 plus two, but that would be only one stronger than last season, when Arsenal suffered injury troubles that cost them in the Premier League title race.
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