However the pressing issues at Arsenal aren't to do with their lack of young prospects coming through the ranks but a weak defence and filling the holes left by Fabregas and the presumably soon ex-Gunner Samir Nasri.
Wenger has been quoted in the media to be "willing to spend £40m", so with that war chest what talent could be brought to North London to reignite Arsenal's title ambitions?
First of all let's look at each position to see where the strengthening needs to take place (we'll also make the assumption that Nasri will be leaving too);
Goalkeepers
Wojciech Szczesny Lukasz Fabianski, Manuel Almunia
The goalkeeping situation at Arsenal has been a problem for the past couple of seasons, constantly rotating their number 1, with neither candidate really staking their clause for a regular starting spot between the sticks.
Manuel Almunia is seemingly at the bottom of the pecking order for the position, and despite a promising 14 appearences in the 2010/11 season for Fabianski, a shoulder injury ruled him out for the second half of the season. Where Fabianski left off, Szczesny picked up.
Since being given that chance, the young Pole became the goalkeeper with the most appearences for last season and at only 21 years old, not only has he been the most promising candidate but he has his best years ahead of him, so he could really grow into the position.
Requirement Rating: *** - although Szcezsny hasn't been pushed to the limits, he has the potential and promise to maintain his spot and with a fit Fabianski waiting in the wings, the goalkeeping scenario should be safe enough.
Centre Backs
Thomas Vermaelen, Laurent Koscielny, Sebastien Squillaci, Johan DjourouAfter the near entire season without defensive rock Thomas Vermaelen in the team, Arsenal's weakness in the centre of defence was severely punished. The signing of Squillaci from Sevilla proved to be ineffective, and Laurent Koscielny has burned hot and cold with excellent performances against Barcelona and awful mistakes in the Carling Cup final in his repertoire.
Djourou has been consistent enough in the position, but he still lacks the quality required if Arsenal intend to contend for the title.
Requirement Rating: ***** - an absolute must, the mention of a "strong English backbone" has been mentioned enough, but it may well be the answer.
Full Backs
Bacary Sagna, Carl Jenkinson, Kieran Gibbs, Armand Traore, Thomas VermaelenWhilst Bacary Sagna has the right back role as his own, it is the departure of Gael Clichy to Manchester City which throws the full back position into disarray. The attacking prowess that Sagna and Clichy provided previously was effective, and Clichy's ability has obviously been noticed by Mancini et al.
Kieran Gibbs has been earmarked to step into the void left by Clichy and if previous performances are anything to go by then Gibbs could be up to the task. His previous string of good performances earned him a call up to the England squad and this run was only cut short by a metatarsal injury.
Thomas Vermaelen is also a strong contender for the position of left back. He often played this position whilst at Ajax and even though he would provide less of an attacking threat down the wings, it would give Arsenal a further physical presence in the back four.
The youngsters waiting in the wings come in the form of new signing Jenkinson and Armand Traore. According to some Arsenal fans I know, apart from the glorious own goal he scored, Jenkinson had shown some promise at right back and Wenger normally has a good eye for the younger signings. Traore comes back to North London from his loan spell at Juventus too where he should've gained some valuable experience.
Requirement Rating: *** - Sagna has right back all covered and Gibbs could well take left back as his own too. With the possiblility of Vermaelen also covering left back, other areas should take more precedence.
Centre Midfield
Abou Diaby, Jack Wilshere, Tomas Rosicky, Aaron Ramsey, Alex Song, Emmanuel Frimpong, Henri LansburyThe departure of Fabregas and (presumably) Nasri has left Arsenal's central midfield lacking a true attacking threat. Whilst Nasri was often deployed on the wing, it was in Fabregas' role where he truly shined, with both of these options now ruled unavailable there is a distinct lack of creativity in the team.
Diaby, Song and Wilshere all provide a good defensive role but it's the reliance on Ramsey and the formerly out of favour Tomas Rosicky that the creativity is really needed from, and it's the Welshman who I think could step into Fabregas' boots from the current array of options. He has shown glimmers of promise from a young age since joining Arsenal, albeit not as young as Fabregas was, but he is in the same kind of mould as the Spaniard - good with his feet and excellent vision for a pass.
Finally there are the youngsters, Frimpong and Lansbury, neither of which I've seen to a great extent except for Lansbury at his time with Norwich and Watford. What does concern me about Lansbury is his constant lack of making it to the first team, maybe spending a little too much time out on loan which may indicate that Wenger isn't hugely confident of the now almost 21 year old.
Requirement Rating: ***** - to have players of the calibre of Fabregas and Nasri leave without replacement would be unthinkable.
Wingers
Theo Walcott, Gervinho, Andrei Arshavin, Alex Oxlade-Chamberlain, Ryo MiyaichiArsenal are often devastating on the wing and have improved their options after the signing of Ivory Coast international Gervinho from Lille this season. Not only Gervinho, but young English prospect Alex Oxlade-Chamberlain was added to the ranks and Ryo "exceptional talent" Miyaichi has also earned his work permit to play for the Gunners.
Walcott will no doubt have a big season this year, with Arshavin blowing hot and cold, it will more often than not be Walcott and Gervinho on the wings. Experience wise, there may be a certain lack of strength in depth, but Oxlade-Chamberlain will certainly want to prove he's worth his price tag and Miyaichi looks to be a true talent.
Requirement Rating: **** - one world class signing wouldn't go a miss, but it would be unwise to spend a large chunk of the budget in this area of the team.
Strikers
Robin van Persie, Marouane Chamakh, Nicklas Bendtner, Joel CampbellFinally we come to the front line, the centre forwards. Robin van Persie will continue to be a key player for Arsenal, now taking the captains armband too, but his sheer efficiency in front of goal is a true asset to any team. However it is the Dutchman's fitness and proneness to injury that will be the most important.
Marouane Chamakh failed to set the Premier League alight last year in his debut season but he seems like the first choice backup, so to speak, for van Persie with Nicklas Bendtner looking elsewhere for his football as of late.
New signing Joel Campbell may not be hitting the first team squad straight away, but will certainly be an option in the future for Wenger.
Requirement Rating: *** - van Persie will be the key man up front, it's whether his backups are up to the job which begs the question of whether money should be spent here.
The Potential Signings
So, who will Wenger decide to splash the cash on? With his latest quote to the media, we'll put the available budget at around £40m (give or take a few million here and there). With Wenger's warchest on show, a bountiful of names have been bandied about.
Obviously the main emphasis has been on Arsenal's problem area - the defence. Gary Cahill, Chris Samba and Phil Jagielka have been leading the way in the rumour wars. England internationals Cahill and Jagielka would certainly be the most expensive options, with both Bolton and Everton being unlikely to lose some of their star players. However the expected £15m-£18m that these players would generate, teams like Bolton and Everton who have little to spend could not only reinvest the money into new players but into the club too. Samba has been linked to Arsenal for quite a while now too. The marauding Blackburn defender would be the perfect physical presence that is lacking in Arsenal's backline and for the expected £10m-£12m, he would be a cheaper option than the aforementioned English players. If Blackburn were to part with Samba though, their odds for relegation could well drop further...
As mentioned, when players with the quality of Fabregas and Nasri leave, there should be at least one direct replacement for them. Brazillian Jadson was the first name to rocket up the rumour charts. The Shakhtar Donetsk player looks to be in the mould of Nasri in his central role - quick, handy with his feet and knows where the back of the net is. For a fee of around £10m, Jadson could well be heading to London. Another player who would be a worthy replacement is Mathieu Valbuena. Valbuena would add more creativity to the squad than Jadson, however I imagine Marseille would also demand a much higher fee than the £10m we'd expect Shakhtar to ask for their Brazilian. Finally there is the more long term target of Juan Mata. Mata is a much more attacking option, playing either on the wing or just behind the striker, but the stumbling block for the move could be Valencia's ever rising valuation of the player - now currently sitting at a cool £26m.
Another winger that has been linked is Eden Hazard. The Belgian has turned a lot of heads in his impressive season for Lille last season, and a move to Arsenal would also see him link up again with former team mate Gervinho. The lure of linking back up with the Ivorian could prove to be handy in getting their man but to spend a large chunk of the budget on a winger and ignore the main areas that need strengthening.
A surprising lack of strikers have been linked with the club after their intentions to spend were revealed, with the only often mentioned target being Peter Odemwingie who has told the media he would only move to a top 4 club if he was to leave West Brom. Despite a fantastic debut season, at 30 years of age, Odemwingie would be under high pressure to maintain the form he displayed last season as he would be entering the twilight of his career.
How the Money Should Be Spent
If we were in Wenger's shoes, the £40m would probably be spent a little like this;
Christopher Samba - £12m
Jadson - £10m
Gary Cahill - £18m
Why these signings? Arsenal need a strong presence at the back, with both Samba and Cahill they'll achieve this in the centre, but shifting Vermaelen to left back would add even further extra grit to the back line. Jadson will also provide Arsenal with the goal threat from midfield. I feel that Ramsey is also capable of stepping into the Fabregas role. We have to remember that Fabregas was not instantly great, and developed into the player he was. With patience, Ramsey could follow a similar path, but he has a superb read of the game already at such a young age.
The lure of players like Hazard and Mata will be appealing for fans however with there is an abundance of talent and potential in the Arsenal ranks on the wings already. If players like Hazard or Mata were to sign, the development of Miyaichi or Chamberlain could be seriously hampered.
