Arsenal reportedly did have the chance to sign striker Edinson Cavani from Paris Saint-Germain.
The Emirates club had been repeated linked with a move to sign Cavani after target Karim Benzema committed his future to Real Madrid.
But according to the Daily Mirror, Arsene Wenger decided against making a move for the Uruguayan because of his lack of sell-on value.
Meanwhile, Gunners legend Thierry Henry believes the lack of spending at the Emirates could hamper Arsenal's title chances this season.
"Right now they are already five points behind City, still have not won at home, won two games by an own goal, which is actually their best goal scorer at the moment," he said.
"Ideally it does not look right now like they are going to win the league like this."
GETTY
Joel Campbell will play a part for Arsenal this season
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy