Arsenal enter the final days of the summer transfer window with Mikel Arteta’s squad already considerably stronger, but Andrea Berta still has several major decisions to make before business closes.
Bruno Guimaraes and Ezri Konsa have strengthened the spine of the Premier League champions, while Christos Tzolis has quickly changed the picture on Arsenal’s left flank.
The work is not finished.
Gabriel Martinelli is edging towards Al Hilal, Arsenal remain interested in Julian Alvarez and several fringe players could still leave in search of regular football.
Here are six decisions that could determine how Arsenal’s squad looks when the transfer window shuts.
1. Can Arsenal complete Gabriel Martinelli’s Al Hilal exit?
Martinelli’s future has developed into Arsenal’s clearest outgoing situation.
If a final agreement is reached, it will be up to Martinelli, who has already turned down Galatasaray, to decide whether he wants to play in the Saudi Pro League. 🇸🇦
The wage package on offer is understood to be significantly MORE than his reported £180,000 a week at Arsenal.… pic.twitter.com/p6Sa3N2A48
— DailyAFC (@DailyAFC) August 25, 2026
Al Hilal have progressed from initial interest to negotiations, an opening bid and now a verbal agreement with Arsenal worth more than €65million.
The remaining work centres on the player.
Fabrizio Romano reports that Martinelli’s representatives are in direct discussions with Al Hilal over personal terms, with Arsenal ready to authorise a medical once an agreement is reached.
That represents significant progress from the position earlier this month, when the Brazilian rejected an opportunity to join Galatasaray.
ReadArsenal reported on Monday that Al Hilal had submitted an opening £50m offer for Martinelli before negotiations advanced further.
The potential fee is significant.
A completed deal could become Arsenal’s record sale and would generate substantial funds at a stage of the window when the club remain interested in another elite attacker.
There is also a footballing logic behind the decision.
Christos Tzolis has immediately impressed following his arrival from Club Brugge, while Martinelli has been omitted from Arsenal’s opening competitive squads.
If the Brazilian agrees terms with Al Hilal, Arsenal now appear ready to let him leave.
2. How far will Arsenal go for Julian Alvarez?
Martinelli’s potential departure naturally increases the focus on Arsenal’s pursuit of Alvarez.
The Atletico Madrid forward remains one of the most ambitious possible additions available to Arteta.
Arsenal have maintained interest throughout the summer, while ReadArsenal reported that Alvarez had begun to soften his previous stance towards moving to the Emirates.
There remain considerable obstacles.
Atletico do not want to lose one of their most important attackers, and Alvarez has previously preferred a move to Barcelona.
The Times reports that Arsenal continue to want the Argentina international during the final week of the window, with Barcelona also relevant to the wider picture.
His absence from Atletico training on Wednesday inevitably attracted attention, but reports in Spain confirmed that illness was responsible. Arsenal should therefore resist reading anything into that development.
The real question is financial.
Alvarez has been made aware Arsenal would play him in his best position and build an attack around him if he were to join. [@MiguelDelaney] ✅ pic.twitter.com/fQda4Y78jB
— DailyAFC (@DailyAFC) August 26, 2026
At some stage Arsenal must decide whether Alvarez is worth the extraordinary investment potentially required to persuade Atletico to sell.
ReadArsenal has already covered reports that Arsenal could spend more than £100m on Alvarez.
Martinelli leaving would create both squad space and additional financial flexibility.
It would not, however, make Alvarez inexpensive.
3. Does Martinelli’s exit require another left winger?
There is an argument that Arsenal have already replaced Martinelli.
Tzolis has started the season in exceptional form and has quickly emerged as one of Arteta’s most dangerous attacking options.
His arrival has directly changed Martinelli’s position within the squad.
But Arsenal need to decide whether one solution is enough.
A title defence, domestic cups and Champions League football will place enormous demands on Arteta’s attacking group.
Bukayo Saka remains fundamental on the right, while Tzolis can operate from the opposite side. Several other Arsenal attackers offer positional flexibility.
Losing Martinelli would nevertheless remove a player who has made hundreds of appearances for the club and has extensive Premier League and European experience.
Arsenal have consequently continued to be linked with additional wide options.
Reports on Wednesday again connected the club with Paris Saint-Germain attacker Bradley Barcola, although the suggested valuation of around £145m would make that an exceptionally expensive solution.
Berta therefore faces a broader strategic choice.
Does Arsenal replace Martinelli directly, or does the club use the money towards a different type of attacker such as Alvarez?
Those are very different squad-building decisions.
4. Where should Ethan Nwaneri play this season?
Not every major decision involves a nine-figure transfer.
Nwaneri’s next step could be one of the most important Arsenal make for the long-term development of the squad.
The 19-year-old needs regular senior football after a difficult loan period with Marseille.
Arsenal are reportedly considering multiple offers from Premier League and overseas clubs, with another loan currently preferred over a permanent departure.
ReadArsenal reported that several proposals are now being assessed for Nwaneri.
🚨💣 Arsenal are prioritising loan offers for Ethan Nwaneri, with the club NOT wanting to sell the player. There is acknowledgment at Arsenal that Nwaneri is at a stage in his career when he would benefit from playing regular senior football. 🕵️♂️🏴 [@SamiMokbel_BBC] pic.twitter.com/Px1D59MUkL
— afcstuff (@afcstuff) August 19, 2026
The destination matters more than simply completing a deal.
Arsenal need to assess playing time, tactical fit, the manager and how committed each club would be to Nwaneri’s development.
Another season in which he plays sporadically would achieve little.
A successful loan, however, could return one of Hale End’s brightest talents to north London with considerably more senior experience.
Berta and Arteta therefore need to resist the temptation to accept whichever proposal is most financially attractive.
Minutes should come first.
5. What happens with Gabriel Jesus?
Martinelli is not the only experienced Brazilian attacker whose future has been uncertain.
Gabriel Jesus has attracted interest after falling down Arsenal’s attacking hierarchy.
The Gunners have already received enquiries, including from Premier League clubs, while Napoli have previously been linked with the former Manchester City striker.
The situation is complicated by squad depth.
Allowing Martinelli and Jesus to depart during the same period would remove substantial experience from Arteta’s attacking group.
Arsenal remain keen to sell Gabriel Jesus, who has entered the final year of his contract. Napoli are understood to be interested in the Brazilian, but they are unlikely to meet the £20m asking price and even less likely to match Jesus' huge wages.
It is believed that Jesus is… pic.twitter.com/fpsWdE5wJH
— DailyAFC (@DailyAFC) August 24, 2026
That becomes easier to justify if another major forward arrives.
It becomes much riskier if Arsenal finish their business without Alvarez or another attacker.
This is where the club’s individual transfer decisions begin to overlap.
A Jesus departure cannot be assessed purely on the fee offered.
Arsenal must consider Martinelli’s situation, the fitness of their remaining forwards, the number of competitions they will play and whether Berta can secure another elite attacking option.
One outgoing could facilitate the squad rebuild.
Too many could leave Arteta unexpectedly short.
6. Should Arsenal prioritise another signing or protect squad balance?
This may ultimately be the biggest question.
Arsenal have already spent heavily to improve a squad that won the Premier League last season.
Guimaraes added another elite midfield option. Konsa increased Arteta’s defensive depth at an important time, particularly with William Saliba and Jurrien Timber recovering from injuries.
Tzolis has already made a substantial attacking impact.
There is therefore no desperate hole requiring Arsenal to make a signing simply because the window remains open.
That matters.
Transfer windows can encourage clubs to treat activity itself as progress. Arsenal are now in a position where the opposite may be true.
Alvarez would represent a spectacular addition if Arsenal can make the finances work and the player is fully committed to the move.
Another winger could become necessary if Martinelli leaves.
But adding an expensive player without a clearly defined role could create problems rather than solve them.
Arteta has spent several years building a squad around competition without losing balance.
The final week should follow the same principle.
Andrea Berta faces defining final days
Arsenal’s remaining transfer work is therefore connected.
Martinelli agreeing an Al Hilal move could influence how aggressively Arsenal pursue Alvarez.
Signing Alvarez could make a Gabriel Jesus departure easier to sanction.
Nwaneri leaving on loan would create another pathway question for Arsenal’s younger players.
And every outgoing changes the depth Arteta has available across a long season.
The encouraging part for Arsenal is that they do not enter the final days from a position of desperation.
They are Premier League champions, have strengthened several areas of the squad and began their title defence with a convincing 3-0 victory over Coventry City.
Berta can therefore afford to be selective.
The challenge is ensuring Arsenal recognise the right opportunities when they arrive.
The next few days could still include one enormous incoming transfer and several significant departures.
They could also end with Arsenal deciding that much of the necessary rebuilding has already been completed.
Either outcome can work.
What matters is that every decision fits the squad Arteta wants when the market finally closes.
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