As the transfer season draws to a close and the Premier League season approaches, it remains far from clear which players will start the season in an Arsenal uniform. This situation is not all that unusual. Arsene Wenger is known for working quietly and pulling off transfers just before the window closes. But the stories coming out over the last 24 hours are, if true, quite disturbing. According to one, Wenger admits that Samir Nasri's situation is not yet sorted out (see here). Meanwhile, The Independent is reporting (here) that a Barcelona VP has arrived in London to negotiate the transfer of Cesc Fabregas. Losing either of those players, just weeks before the new season kicks off, would be bad. But to lose both could be, if anything, more disastrous than last season's last collapse.
Meanwhile, there's no sign of a new defensive signing, which is desperately needed (no matter what Wenger says in the press about the quality of his defensive unit). The only news on that front is that Everton's Phil Jagielka has rejected a move to the Emirates (see here); Everton seem willing to sell him but have rejected Arsenal's initial offer. If Fabregas goes to Barca, 19-year-old defensive midfielder Oriol Romeu could well move in the opposite direction as partial compensation. That would help to fill the roster spot left following Denilson's departure on loan to Sao Paulo. However, to the extent lack of experience and mental toughness were Arsenal's chief problems last year, no improvement (yet) appears in sight for this season.
UPDATE: Arsene Wenger has just reassured fans that he "certainly" will sign a defender yet this summer (see here), although he is, as usual, playing his cards close to his vest.