Mikel Arteta and Arsenal are still recovering from the shock of being knocked out of the Europa League during the week and the early exit could impact on transfer dealings this summer especially if the club fails to qualify for the Champions League next season.
Arsenal were in a fantastic position in their Europa League last 32 tie with Greek Super League giants Olympiacos after the 1-0 away win in Greece only for Arteta and his players to throw away that advantage.
The Gunners were beaten on the away goals rule after they lost 2-1 at home in the second leg after regulation time and extra time.
The second leg went into extra time after Olympiacos won 1-0.
According to Football London, Mikel Arteta will need to raise as much as £160m to spend on players this summer.
The likes of topscorer Pierre-Emerick Aubameyang, Shkrodan Mustafi and Sokratis Papasthathopoulos could leave this summer.
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It’s not sure that leading marksman and club skipper Aubameyang will sign a new contract as he has just one year left on his current deal. The £80m-rated attacker is attracting interest from both Barcelona and Manchester United.
Mustafi could be available for just £13.5m as he has one year to run on his present contract. For Sokratis, a fee of around £16.2m would be enough to sign him from Arsenal this summer.
Other Arsenal players that could leave in the summer include Sead Kolasinac who has lost his place to teenage player Bukayo Saka who came through the ranks at the club before making his debut for the first team last season.
Arsenal loanees Henrikh Mkhitaryan and Mohamed ElNeny have both been very impressive with their loan clubs. Their loan transfer could be made permanent.
Mkhitaryan is on loan from Arsenal at Italian Serie A capital club AS Roma, while ElNeny is on loan at Besiktas in Turkey.