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Although Denis Suarez arrived on the day of the deadline, Arsenal's board of directors, staff and fans were all desperate to see new faces arrive.
Ivan Perisic, Christopher Nkunku and Yannick Carrasco have all been proposed as loan targets for Unai Emery.
But respected BBC journalist David Ornstein explained why the agreements had not been made.
He told 5Live: "Unfortunately for Arsenal, they had hoped that it would [Nkunku] It would be their second loan of the day, but it was extremely complicated.
"PSG needed a replacement. PSG had to sign an extension of contract that would have protected its value.
"Arsenal would have had to agree on an agreement with Paris Saint-Germain. Thomas Tuchel, the Paris St-Germain coach, should have accepted him without being replaced.
"He wanted Nkunku on his team, and Sven Mislintat, head of recruitment at Tuchel and Arsenal, has an icy history that may have had a political element and ultimately resulted in such an agreement.
"Ivan Perisic was a target of Arsenal, still a loan with an option to buy, but Inter Milan had no interest in that. They wanted money guaranteed.
"So, this one fizzled quite quickly. Arsenal was also interested in Yannick Carrasco, the Belgian international currently playing in China.
"But their offer of loan fees for him was unacceptable in the Chinese club's mind and that agreement did not materialize either, leaving Arsenal only to Denis Suarez."
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