It's been a difficult couple of months for everyone involved with Arsenal Football Club.
The Gunners ended the season just a point outside the top four behind North London rivals Tottenham, before going down 4-1 to Chelsea in the Europa League final to ensure that the club would be absent from the UEFA Champions League for a third successive season.
Their failure to qualify for European footballs elite competition has really hit them hard over the last few years, with them struggling to attract the level of player that some of their rivals have, whilst seriously impacting on their revenue streams. Prize money, broadcasting and match day income has all suffered significantly and it's having a big effect.
It was reported after the 2018/19 season ended that the Gunners were set to make their first financial loss since 2002 and it looks like that's certainly the case with how tight the purse strings are in the red half of North London at the moment.
Despite having one of the richest owners in the Premier League, Unai Emery is reported to have been given an underwhelming transfer budget of just £45m to try and get the Gunners back in the Champions League.
A shockingly low figure in the current transfer climate and one that will almost certainly result in them being left behind by their rivals. Manchester City have spent £62.5m on Rodri, Manchester United have shelled out £50m on Aaron Wan-Bissaka and even the transfer banned Chelsea (Matteo Kovacic £40m) have managed to make a big money purchase.
Even Tottenham (Tanguy Ndombele £63m) who haven't bought a player for 18 months have been active by smashing their transfer record, so this must be tough for Arsenal supporters.
The Spaniard is believed to have gone in for the likes of Yannick Carrasco, Kieran Tierney and Wilfried Zaha so far this window but the demands of each club have scuppered any potential move.
Emery has a colossal job on his hands in restoring Arsenal back to where they belong and his cause wasn't helped on Thursday morning when he and his squad jetted off to the United States for their pre-season tour with the exception of one key player.