What would constitute a successful January for Arsenal?

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Arsenal are facing a crucial January transfer window, despite Arsene Wenger’s own preference to do no business during the season. The Gunners have pushed themselves into a corner when it comes to the contracts of key first-team players.

Mesut Ozil and Alexis Sanchez have been widely written about for over a year. Both are now in the final six months of their contracts and able to discuss terms with foreign clubs with a view to a Bosman transfer this summer. Meanwhile, Jack Wilshere is another who is approaching a contractual impasse, but if the club want to keep him, he will be easier to renew.

The current state of the Premier League makes the contractual situation particularly difficult for Arsenal.

On the one hand, it would be foolish to lose two world-class talents like Ozil and Sanchez for free. If you take this stance, it makes sense to sell both during this window as they are still able to bring in some money, even if it is below their valuation of the players. The former has been linked with Manchester United, while the latter has been heavily linked with Manchester City.

It would be a blow to lose them to rival clubs, but it would be more embarrassing if they moved to the same sides on a free transfer at the end of the current season.

On the other hand, Arsenal are approaching a key period in their history and if they are to propel themselves back to be a club that challenges for major honours, they need Champions League football.

The competitiveness of the Premier League means that there is a chance for the Gunners to finish in a top four, but this would be severely hurt if they were to lose their two best assets.

The Europa League offers another chance to qualify and they are currently one of the favourites to win the competition. That would change if their squad became weaker over the next month.

Wenger will realise that his club need to project a positive image if they are to sufficiently replace Ozil and Sanchez if the duo do move on. Champions League qualification will be central to convincing top-tier replacements and they need the unsettled duo in order to get that.

This next month should be focused on bringing players in to strengthen their cause, rather than spending time dealing with speculation about outgoings.

For that reason, it is imperative that Arsenal send out a strong message early on and tell interested clubs that neither player will leave in January. This will have financial implications, but the Gunners must prioritise Champions League qualification.

Although it would be self-destructive to sell either player in this window, Arsenal can’t be stupid and they must start planning for their eventual departures. It would be a lot better for the club if they were to bring in attacking reinforcements in January with the view that the players coming in would eventually replace Sanchez and Ozil.

One high-profile player that they could tempt to the Emirates Stadium in January is Julian Draxler. The Paris Saint Germain midfielder is not first choice for the French club and he will have ambitions of starting for Germany at the World Cup.

In addition, the club themselves are in danger of Financial Fair Play punishments after their big-spending summer. There were reports in Spain, following the previous transfer window, that the Ligue 1 leaders would have to sell players to meet UEFA regulations and the German international is one of their most saleable assets.

Draxler has shown flashes of his ability in France, but he has the potential to perform at a higher level and a move to the Premier League could provide him with the platform to fulfil that.

The German has been a long-time target for Arsenal and it would be a move that makes sense for all parties, if the price tag is a fair one. If the 24-year-old was to arrive in North London, he would be viewed as a long-term replacement for his compatriot Ozil, rather than Sanchez.

As he is one of the best players in the Premier League, it will be near impossible to replace Sanchez with a player of similar quality. However, a move for Riyad Mahrez could fit the bill and go some way to filling the massive hole left by the Chilean.

The Algerian international won the PFA Player of the Year award during the 2015/16 season, which showed that he has the ability to consistently perform to a high level in the Premier League.

Since then, he has lacked the same motivation, but in recent weeks, he has been excellent. The winger has two goals and three assists in his last four matches for Leicester City. Although Claude Puel would like to keep him, it will be difficult for the Foxes to stand in the player’s way if a good offer is forthcoming.

Finally, if they do choose to be active in the transfer window, they should be looking at defensive reinforcements. Arsene Wenger has favoured the 3-4-3 formation, but he lacks depth at centre-back. Against Chelsea, he had to start with Rob Holding and Calum Chambers, neither of whom have the required quality to start regularly for a club with Champions League ambition.

Liverpool’s signing of Virgil van Dijk is likely to inflate the prices, but there could be an opportunity for Arsenal to sign somebody of good quality. West Bromwich Albion’s Jonny Evans has been a target in the past, but that would not be one to get the supporters excited.

Wenger likes working with young players and he will be aware of the best prospects coming through across Europe. Manuel Akanji is highly rated and has been linked, by the Independent, with Liverpool and Dortmund. He is a player the Gunners should be looking at.

It remains unlikely that Arsenal will do business in January. Arsene Wenger has rarely been active in the mid-season window, but if he wants to provide his squad with more balance and fresh impetus, he should be looking to bring in attacking and defensive reinforcements.

Supporters will be more concerned with the possible departures of Ozil and Sanchez. However, the time has gone to sell them. If the club do it this month, they would be crazy.