Philippe Coutinho, Mesut Ozil, Matteo Guendouzi: 5 players Arsenal should sign, 5 they should offload this transfer window

Potential recruits on manager Mikel Arteta's transfer list

IN: Lyon are expected to sell Houssem Aouar this summer, according to L'Equipe, with Arsenal reported to be front of the queue for the French schemer's services. Arsenal sports director Edu is said to have had several meetings with his Lyon counterpart Juninho Pernambucano about lowering the French club's €60 million asking price, with the Gunners prepared to throw Matteo Guendouzi in as part of the deal. Reuters

OUT: An ugly confrontation with Neal Maupay following defeat to Brighton saw Matteo Guendouzi banished from the squad by manager Mikel Arteta for the run in. French giants Paris Saint-Germain and Lyon have been linked with the midfielder but are thought to be put off by Arsenal's £40 million asking price. Reuters

IN: Unwanted by Barcelona, unlikely to be retained by Bayern Munich, Philippe Coutinho is a player in search of a new home for 2020/21. The Brazilian midfielder emerged as one of the finest attacking talents in Europe during a four-year stint at Liverpool and is well-suited to the Premier League. Reuters

OUT: Mesut Ozil failed to make Arsenal’s match day 20 for any of their last 10 games. Despite his manager decrying a lack of creativity in his side, it seems the German World Cup winner does not feature in the Spaniard's plans. But Ozil, 31, is prepared to dig his heels in. The remainder of his contract is worth upwards of £14 million, and he can rightly argue he is within his rights to honour it after all parties entered into the new deal in good faith. Getting him off the wage bill would open up plenty of possibilities for the Gunners, but getting Ozil to budge will be no easy task. AFP

IN: Played like a player schooled at Real Madrid after lockdown, rather than the one plucked from Lincoln reserves before it. Real are reported to have turned down the Gunners' opening gambit to take midfielder Dani Ceballos back to London on loan for next season, but Arteta will be keen to add the Spaniard's spark to a midfield that lacked it too often last term. AFP

OUT: Arsenal ended the season playing with a back three with the experienced Shkodran Mustafi deployed on the right hand side. Failed to dispel the belief that over the course of 90 minutes a multitude of mistakes can be drawn out of the Germany international. Reuters

IN: Abdoulaye Doucoure fell well short of his true form as Watford were relegated from the Premier League. The Frenchman is a powerhouse on his day though, and his ability to get box-to-box would add a fresh dimension to Arsenal's engine room. Reuters

OUT: A successful loan spell at Besiktas could pave the way for Mohamed Elneny to end his unhappy spell at the club with the Turkish side reportedly ready to meet Arsenal's €10 million asking price for the Egypt midfielder. Getty Images

IN: The London club have been linked with a move for Kalidou Koulibaly since the last days of Arsene Wenger. Liverpool and others have shown that breaking the bank for top talent is a risk worth taking when identifying centre-backs, and Arsenal should be brave in meeting Napoli's €70 million asking price. EPA

OUT: Sokratis Papastathopoulos has failed to live up to the hype surrounding his move from Borussia Dortmund and was mostly used as a substitute to eat up time during the run in. Reuters

Arsenal should head into the new season with more optimism than they entered the 2019/20 campaign.

The writing was on the wall for Unai Emery pretty early on, while Freddie Ljungberg just about steadied the ship before Mikel Arteta's December appointment.

Performances remained patchy at best but there were several positives to end the season. Granit Xhaka was successfully reintegrated into the side, David Luiz stood tall when the Gunners needed him most and Pierre-Emerick Aubameyang enhanced his reputation as arguably the finest centre forward in the division.

There was also silverware, with Arsenal 2-1 winners over Chelsea in the FA Cup final. But that can't gloss over an eighth-place Premier League finish, with a points tally only two better than Sheffield United and Burnley, and 10 points off fourth-placed Chelsea.

Arteta will know better than anyone the need for reinforcements, but the Spaniard could find himself hamstrung by finances.

Mesut Ozil's insistence on seeing out his contract - the German is the club's top earner on a reported £350,000 per week - means Arteta must decide whether to make use of the German's creative qualities or keep him as the world's most expensive outcast.

Take a look at the potential ins and out at Arsenal in the picture gallery above. To move on to the next image, swipe or click on the arrows.