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<p>Arsenal spent over £200 million in the summer transfer window. The Gunners signed Declan Rice, Kai Havertz and Jurrien Timber - before bringing David Raya in on an initial loan deal.</p><p>The Gunners are expected to activate their £30 million option to make Raya's move to the Emirates Stadium permanent, with the Spaniard replacing Aaron Ramsdale as the club's first-choice goalkeeper.</p><p>As a result, the Gunners are firmly entrenched in another Premier League title race, and are aiming to go one better than last season and lift their first domestic title for the first time since the 2003–04 Invincible season.</p><script type="application/json" data-placement="fcplayer-semantic">{"type":"fcplayer-semantic","data":{"embedCode":"//cdn.fcp.codes/embed-code-template/embed-code-template.js#SEMANTIC_5704afb8-c10b-4ba5-9cb4-d7fb6098ef90"}}</script><p>Despite manager Mikel Arteta making no secret of the fact that injuries had left his side really short in certain positions and even declared he was "open" to conducting business, the heavy investment meant they have been increasingly cautious with their spending during the January transfer window to avoid moving within touching distance of a potential punishment in the future.</p><p>They have been linked with several players as a defender, midfielder and attacker could all improve Arteta's squad, but all signs now point towards the club waiting until next summer to land their key targets, and barring any late deadline day action, they will end the January transfer window with no new signings.</p><p>With the winter transfer window now also coming to a close, <strong>GOAL </strong>has got you covered with all the completed Arsenal transfers in the ongoing 2023-24 season, below.</p>

All completed Arsenal transfers so far in 2023-24 - listed

<p>Arsenal were extremely busy in the summer transfer market as  Arteta wanted to make sure that the Gunners had strength in depth in their squad to compete in the Champions League and mount another Premier League title charge.</p><p>Declan Rice was a marquee signing at a club-record £105million, while Kai Havertz joined from rivals Chelsea for a fee worth roughly £65million. Jurrien Timber was the final permanent signing of the window from Ajax, while David Raya sealed a loan move from Brentford as opposed to an earlier touted permanent move to north London.</p><table><thead><tr><th><strong>Player</strong></th><th><strong>Nationality</strong></th><th><strong>Previous club</strong></th><th><strong>Fee</strong></th></tr></thead><tbody><tr><td>Declan Rice</td><td>England</td><td>West Ham United</td><td>£105.00m</td></tr><tr><td>Kai Havertz</td><td>German</td><td>Chelsea</td><td>£65.00m</td></tr><tr><td>Jurien Timber</td><td>Netherlands</td><td>Ajax</td><td>£38.00m</td></tr><tr><td>David Raya</td><td>Spain</td><td>Brentford</td><td>Loan </td></tr><tr><td>Folarin Balogun</td><td>America</td><td>Stade Reims</td><td>End of Loan</td></tr><tr><td>Nicolas Pepe</td><td>Ivory Coast</td><td>OGC Nice</td><td>End of Loan</td></tr><tr><td>Nuno Tavares</td><td>Portuguese</td><td>Marseille</td><td>End of Loan</td></tr><tr><td>Cedric Soares</td><td>Portuguese</td><td>Fulham</td><td>End of Loan</td></tr><tr><td>Arthur Okonkwo</td><td>England/ Nigeria</td><td>Sturm Graz</td><td>End of loan</td></tr><tr><td>Runar Alex Runarsson</td><td>Iceland</td><td>Alanyaspor</td><td>End of Loan</td></tr><tr><td>Pablo Mari</td><td>Spain</td><td>Monza</td><td>End of loan</td></tr></tbody></table>

New signings summer window

<p>The biggest transfer sale by Arsenal was the departure of USMNT international striker Folarin Balogun, who joined Monaco in a deal worth £40 million after a fine goal-scoring season in France with Reims last season.</p><p>Granit Xhaka left the club in favour of a return to Germany with Bayer Leverkusen after enjoying a rollercoaster of a career at Arsenal. Ainsley Maitland-Niles has been released too. Monza activated the permanent purchase option on centre-back Pablo Mari.</p><p>Long-serving defender Rob Holding and goalkeeper Matt Turner also went out of the door permanently, while Nuno Tavares joined Nottingham Forest on loan with a permanent purchase option as the Gunners looked to make some sales to fund their ambitious spending in the summer window.</p><table><thead><tr><th><strong>Player</strong></th><th><strong>Nationality</strong></th><th><strong>New Club</strong></th><th><strong>Fee</strong></th></tr></thead><tbody><tr><td>Folarin Balogun</td><td>USA</td><td>Monaco</td><td><span>£40.00m</span></td></tr><tr><td>Granit Xhaka</td><td>Switzerland</td><td>Bayer Leverkusen</td><td>£21.50m</td></tr><tr><td>Matt Turner</td><td>USA</td><td>Nottingham Forest</td><td><span>£7.00m</span></td></tr><tr><td>Pablo Mari</td><td>Spanish</td><td>Monza</td><td><span>£3</span>.70m</td></tr><tr><td>Auston Trusty</td><td>USA</td><td>Sheffield United</td><td><span>£4.90m</span></td></tr><tr><td>Rob Holding</td><td>England</td><td>Crystal Palace</td><td><span>£1.00m</span></td></tr><tr><td>Ainsley Maitland-Niles</td><td>England</td><td>Lyon</td><td>Free agent</td></tr><tr><td>Albert Sambi Lokonga</td><td>Belgium/Congo</td><td>Burnley</td><td>Loan</td></tr><tr><td>Arthur Okonkwo</td><td>England/Nigeria</td><td>Wrexham</td><td>Loan</td></tr><tr><td>Kieran Tierney</td><td>Scotland</td><td>Real Sociedad </td><td>Loan</td></tr><tr><td>Marquinhos</td><td>Brazil</td><td>Nantes</td><td>Loan</td></tr><tr><td>Runar Runarsson</td><td>Iceland</td><td>Cardiff City</td><td>Loan</td></tr><tr><td>Marquinhos</td><td>Brazil</td><td>FC Nantes</td><td>Loan</td></tr><tr><td>Nuno Tavares</td><td>Portugal/Cape Verde</td><td>Nottingham Forest</td><td>Loan</td></tr></tbody></table>

Departures summer window

<p>Many pundits and fans alike have questioned Arsenal's lack of a 25-goal-a-season striker with neither Eddie Nketiah nor Gabriel Jesus viewed as quite prolific and consistent enough in front of goal.</p><p>As a result, Arsenal have been linked with the likes of Dusan Vlahovic, Victor Osimhen, and Ivan Toney. With doubts emerging over the futures of Thomas Partey, Jorginho and Mohamed Elneny, Mikel Arteta is also eyeing a new defensive midfield option to pair with Rice in the middle of the park.</p><p>With all of that being said, the Gunners are yet to make a new addition in the winter window, with Marquinhos' return from his loan at Nantes being their only piece of incoming business as of yet.</p><table><thead><tr><th><strong>Player</strong></th><th><strong>Nationality</strong></th><th><strong>Previous club</strong></th><th><strong>Fee</strong></th></tr></thead><tbody><tr><td>Marquinhos</td><td>Brazil</td><td>Nantes</td><td>End of loan</td></tr></tbody></table><p></p><p></p><p></p>

New signings January window 

<p>Arsenal must sell to raise funds, and this is where Arteta could be ruthless, and will look to move on some financial assets to allow the club some monetary freedom to invest.</p><p>Eddie Nketiah, Reiss Nelson, Aaron Ramsdale and Cedric Soares could all be put up for sale. Emile Smith Rowe could also be thrown into the mix, having not featured much in the Spaniard's plans this season. Three of the aforementioned quintet on the chopping block are Hale End graduates, so they present very nicely on the accounting sheets in terms of pure profit.</p>

Departures January window

All completed Arsenal transfers so far in 2023-24 - listed | Goal.com Kenya

GOAL rounds up all the completed Arsenal transfers in the 2023-24 season so far, including new signings, who&apos;s out and returning loans