The second-placed curse struck again for Mikel Arteta's Arsenal in the 2024-25 Premier League season, as in the manager's own words, the Gunners went backwards from the 2023-24 campaign.
Finishing with 15 fewer points would certainly suggest so as the Gunners ceded the crown to Liverpool with a whimper, but reaching the Champions League semi-finals at least signalled progress in Europe.
Of course, a spate of devastating injuries to key players did not help Arsenal's cause, but there is the argument that the money men upstairs did not do enough to plan for the worst-case scenario during previous windows.
However, with the first summer market now open, Sports Mole assesses Arsenal's top targets, budget, most likely signings and priority positions for the 2025 window.
Arsenal's top targets for 2025 summer transfer window
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As we type, Arteta and new sporting director Andrea Berta are still mulling over whether Sporting Lisbon's Viktor Gyokeres or RB Leipzig's Benjamin Sesko should be the Gunners' new number nine for 2025-26.
Newcastle United's Alexander Isak was and still is the dream for Arteta, but the Spaniard has likely accepted that a move for the Swede is a non-starter, as the Magpies should flat-out refuse to entertain any bids this summer.
The Gunners appear to be setting themselves some ambitious targets out wide too, as there has been serious talk of Arsenal trying to pull off a deal for Real Madrid's Rodrygo or AC Milan's Rafael Leao, both of whom could cost in excess of £100m.
Brighton & Hove Albion's Kaoru Mitoma, Bayern Munich's Leroy Sane and Athletic Bilbao's Nico Williams are also believed to be on Arsenal's attacking shortlist, although Chelsea are ostensibly at the head of the queue for Borussia Dortmund's Jamie Gittens.
Further back, a £51m deal for Real Sociedad's Martin Zubimendi should go through with minimal fuss, but Espanyol goalkeeper Joan Garcia is supposedly on the verge of joining Barcelona.
Arsenal's budget for 2025 summer transfer window
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After finishing second in the Premier League and losing to Sporting Lisbon in the Europa League last 16 in the 2022-23 season, Arsenal splashed out a whopping £200m on the arrivals of Declan Rice, Jurrien Timber and Kai Havertz.
Last summer was a more conservative window, as Mikel Merino, Riccardo Calafiori and Raya arrived for close to a combined £100m, while Emile Smith Rowe, Eddie Nketiah and Aaron Ramsdale were sold for sizeable fees.
Having now generated more revenue from reaching the UCL semis, Arsenal are in excellent financial shape, and Arteta will likely have at least £200m to play with once again.
That figure could even increase if the likes of Jakub Kiwior, Oleksandr Zinchenko, Reiss Nelson and Albert Sambi Lokonga are sold, but regardless, money will not be an issue at all for Arsenal this summer.
Arsenal's most likely signings for 2025 summer transfer window
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As mentioned, Arsenal only have a couple more hoops to jump through before Zubimendi can be considered one of their own; they are said to have reached an agreement with the player and now just need to activate his release clause.
However, it is still anyone's guess which way they will go further up the field, as while Berta is known to be a huge admirer of Gyokeres, more concrete talks appear to be taking place with Sesko's representatives.
As a result, the Leipzig man can be considered more likely to move to the Emirates than his Swedish counterpart, and a reported £75m transfer fee would not break the bank either.
While Arsenal are not treading any Financial Fair Play lines, they may still baulk at Real and Milan's asking prices for Leao and Rodrygo respectively, so Williams - whose Athletic contract is said to contain a release clause of around £48m - is more realistic.
Arsenal's priority positions for 2025 summer transfer window
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In terms of Arsenal's number one priority, the answer has arguably been the same ever since Pierre-Emerick Aubameyang's acrimonious exit in early 2022, since when Gabriel Jesus and Havertz have taken on number nine duties to mixed success.
The Gunners held off on a centre-forward signing last summer and took a risk that backfired in January, but this window will almost certainly be the window where Arteta welcomes a new marksman to North London.
As neither Gabriel Martinelli nor Leandro Trossard are setting the world alight right now, a new left-winger is also on Berta's agenda, while Zubimendi's arrival will fill one of two number six voids if Thomas Partey joins Jorginho in leaving the club.
Striker, left wing and defensive midfield are undoubtedly Arsenal's top outfield priorities, but in between the posts, a new number two must also be sought following Neto's return to parent club Bournemouth.
However, as Garcia is now Barcelona-bound, Arteta could instead promote Karl Hein to the role of Raya's deputy; his only other internal option would be 19-year-old Tommy Setford.