And in that time, the Spaniard has brought in a total of five new players as he aims to restore the Gunners as a top-four side with ambitions of challenging for major honours in the near future.
Of the new arrivals, four have been permanent.
Willian completed his free transfer from Chelsea after his contract expired at the end of last season, while Gabriel Magalhaes sealed his £25m move from Ligue 1 side Lille last month.
In addition, Pablo Mari and Cedric Soares – both of whom were loan signings in the January transfer window – officially became Arsenal players when the summer window opened.
Meanwhile, Dani Ceballos has returned to the Emirates Stadium for another season, but is once again only on loan from Real Madrid.
With that said, there’s still time for Arteta to make his fifth permanent signing as Gunners boss amid links to the likes of Runar Alex Runarsson, Thomas Partey, Houssem Aouar and Odsonne Edouard.
However, in order to fund more deals the Gunners have to raise funds by selling first-team players – just like they have done with Emiliano Martinez’s £20m move to Aston Villa.
Luckily, another cash injection could soon be on the way.
Furthermore, SportBild claim Leverkusen will hold talks with the Bosnia and Herzegovina international this week and are boosted by the fact he’s keen on a return to Germany.
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It has previously been suggested that Leverkusen could face competition for Kolasinac’s signature from rivals Schalke.
The Royal Blues are reportedly keen to bring the 27-year-old back to the Veltins-Arena but could face financial problems regarding a loan deal.
However, it seems that Leverkusen have the advantage.