Arsenal's failure to qualify for the Champions League could reportedly see Mikel Arteta miss out on a total of four proposed signings this summer.
The Gunners were in the driving seat for a top-four place throughout the majority of the spring before back-to-back defeats to Tottenham Hotspur and Newcastle United handed Spurs the upper hand.
Arsenal began the final day of the 2021-22 Premier League campaign two points behind Antonio Conte's side, but they did what was required of them by thrashing Everton 5-1.
However, Tottenham put five goals of their own past Norwich City to confirm their place in the Champions League for 2022-23, forcing Arsenal to settle for Europa League football in the process.
Arteta and technical director Edu were expected to oversee a significant summer of spending regardless of Arsenal's league position, but missing out on the top four could have greater implications than first feared.
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According to The Sun, Arsenal had budgeted for seven new signings with Champions League football, but the North London club may now only be able to bring in three new arrivals.
However, the report goes on to add that Arsenal are "increasingly confident" about their chances of wrapping up a deal for Manchester City's Gabriel Jesus as they prepare to bolster their frontline.
Alexandre Lacazette has followed Pierre-Emerick Aubameyang out of the exit door ahead of the expiry of his contract next month, leaving Eddie Nketiah as Arteta's only senior number nine.
Nketiah is also due to head elsewhere on a free transfer, but the 23-year-old has supposedly agreed to a new five-year deal at the Emirates worth £100,000 per week after a strong end to the campaign.
The Gunners have also been linked with the likes of Tammy Abraham and Gianluca Scamacca to replace Lacazette and Aubameyang and have allegedly been offered the chance to sign PSV Eindhoven's Cody Gakpo.
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A move for Leicester City midfielder Youri Tielemans is also on the cards for Arsenal, who are supposedly confident of sealing the Belgian's signature for a £25m fee.
Tielemans's arrival could pave the way for Lucas Torreira and Ainsley Maitland-Niles to complete their anticipated exits, but Mohamed Elneny has signed a new one-year deal until 2023.
The Gunners are also considering the possibility of sending Nuno Tavares out on loan to continue his development, with Bologna's Aaron Hickey on the radar for defensive reinforcements.
USA goalkeeper Matt Turner will soon arrive from the States to act as backup for Aaron Ramsdale, with Bernd Leno expected to complete a permanent move elsewhere.
