Mikel Arteta is staring down the barrel of Arsenal completing the rest of the season without their two main transfer targets as both Dusan Vlahovic and Arthur Melo may now remain at their respective clubs.
The Gunners have endured a dismal start to the new year having yet to win a game in 2022 and as a result fans are beginning to grow anxious Arsenal won't strengthen before the end of the window.
There are a number of areas Arsenal need to address but the two most pressing positions are in central midfield and centre-forward.
Arteta is on the brink of a midfield crisis, with his two first choice central midfielders both serving suspensions for red cards in the form of Thomas Partey and Granit Xhaka.
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Mohamed Elneny is currently away with Egypt on international duty as his national side have progressed to the latter stages of the Africa Cup of Nations in Cameroon.
This leaves just Albert Sami Lokonga as the only recognised senior central midfield player as Arteta is reluctant to deploy the inexperienced Charlie Patino in the Premier League.
Arsenal are interested in a switch for Arthur, currently of Juventus, and at one stage a deal seemed to be on the brink of being agreed after Gunners technical director Edu met with the Brazilian international's representatives.
However, Juventus boss Massimiliano Allegri has since poured cold water over the idea Arthur will be leaving Turin anytime soon.
"The team is this and it will remain like this," said the Italian.
"Let’s not forget that Arthur has come back from six months of inactivity, he needed to find time and he’s now performing well.
"Arthur’s talent is not in dispute, he needs certain players by his side. Arthur’s part of Brazil national team, he’s an important player."
While it is not an entirely similar story with Vlahovic given he does want to leave his current club, it throws up an identical outcome for Arsenal as he does not want to make the switch to north London.
The Serbia international is thought to have had reservations over a move to Arsenal for some time but interest from the Gunners continued to linger.
According to Italian outlet La Repubblica, Vlahovic "is in no hurry" to decide his next move but his "dream" is to eventually play in the Premier League.
However, it is likely to be in the colours of table-toppers and reigning champions Manchester City rather than Arsenal.
Despite this, Arteta has insisted the Gunners are doing all that they can to strengthen their squad before the end of the month.
"The team are working extremely hard to get the players that we want and we have no news to give you,’ claimed the Arsenal boss.
"We have a plan to try to bring players in and try to get the players we want with the right qualities and improve the squad in the best possible way every single window."