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 second 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
As we type, Arteta and new sporting director Andrea Berta is ramping up negotiations for Sporting Lisbon's Viktor Gyokeres, whom the Gunners have appeared to settle on as their number one target.
Arsenal were initially torn between the Sweden international and RB Leipzig's Benjamin Sesko, whom they had tried and failed to bring to the English capital last summer before he penned a new contract with the German giants.
There was an expectation that Sesko would be allowed to leave Leipzig for a suitable fee this summer, but Die Roten Bulle have allegedly been playing hardball in negotiations, forcing Arsenal to swerve for the Sporting number nine instead.
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, Crystal Palace's Eberechi Eze and Chelsea's Noni Madueke are also on Arsenal's wide shortlist, but Athletic Bilbao's Nico Williams has signed a new long-term deal in the Basque country.
Now, Arsenal appear to be making the most serious move for Madueke - who has allegedly been the subject of an opening £50m offer - while Eze remains of interest too, but there has been no formal bid for the Englishman just yet.
Further back, a £51m deal for Real Sociedad's Martin Zubimendi has gone through with minimal fuss - as did Christian Norgaard's £12m move from Brentford - but Espanyol goalkeeper Joan Garcia has also signed for Barcelona, so £5m Chelsea man Kepa Arrizabalaga is the next best thing there.
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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Kepa, Zubimendi and Norgaard have now touched down in North London, and if the most recent reports are to be believed, Gyokeres may be joining them imminently.
Christian Mosquera of Valencia is also said to be pining for a move to the Emirates, and if Arsenal can stump up Los Che's asking price, that one should not be too difficult to pull off.
While Arsenal are not treading any Financial Fair Play lines, they may still baulk at Real and Milan's asking prices for Rodrygo and Leao respectively, but the Madueke route appears increasingly viable.
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 and Norgaard's arrivals will fill the two number six voids left by Jorginho and Thomas Partey's departures.
Striker, left wing and defensive midfield are undoubtedly Arsenal's top outfield priorities, but in between the posts, a new number two was of paramount importance following Neto's return to parent club Bournemouth.
As Garcia is now donning the Barcelona strip, Arsenal turned to the man who filled Neto's Bournemouth boots in Kepa, still the most expensive goalkeeper on the planet but one who only cost £5m thanks to a release clause in his Chelsea contract.