The Gunners looked as though they were heading for a fourth place finish, but they came up just short, allowing Tottenham to snatch it instead.
The one tricky aspect of that is the need for the Gunners to add to their squad this summer, needing more depth to compete in Europe.
And on those lines, we have rounded up all the latest transfer news and rumours,
That’s according to Ben Jacobs, who told The Done Deal Show: “When we first spoke about this the fee was £55m in Man City’s head, somewhere in that ballpark.
“For whatever reason, Arsenal felt that £55m was too high, but the situation now is that Man City are ready to accept an offer and the value of the deal has dropped between £10-12m, so it’s well within Arsenal’s ballpark.
“Now City will let Jesus go for somewhere in the low 40 millions, so Arsenal will now see that as value, but the irony is that when you drop the price you increase the interest.”
While Arsenal are going hell for leather to sign Jesus, they are set to face competition.
Tottenham have been linked, and fresh reports now claim Chelsea are chasing a deal for the Brazilian striker.
Fabrizio Romano says Chelsea are one of five clubs to express an interest, but they are also considering a deal for RB Leipzig star Christian Nkuku.
Alexandre Lacazette has found himself a new club.
The French striker will officially leave Arsenal when his contract expires at the end of June, and he will do so on a free transfer.
Lacazette has decided to return to Lyon after five years, penning a three-year deal with the French club he previously spent 14 years with, coming through their academy.