Arsenal were supposedly priced out of a late move for young Brazilian attacker Marcos Leonardo during the summer transfer window.
Thanks to his rise to prominence in his homeland and at Benfica, Arsenal were said to have taken a liking to the 21-year-old, even going as far as submitting a £25.5m bid for his services a few months ago.
That reported offer led to nowhere, and Leonardo ended his first half-season in Portuguese football with a respectable seven goals from 14 Primeira Liga matches following his arrival from Santos.
The 2003-born striker had previously netted 54 goals in 168 matches for his boyhood club, who sold him to Benfica for €18m (£15.2m) in January, and he scored his first goal of the 2024-25 season in a 1-1 draw with Moreirense on August 30, which was transfer deadline day in the UK.
Prior to the window slamming shut, Arsenal were reportedly weighing up a late approach for Leonardo, according to a report from TBR Football, who claim that sporting director Edu was particularly keen on him.
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Leonardo joins Al-Hilal after Arsenal decision
The Gunners chief - who has worked to build strong connections with Arsenal's South American colleagues - apparently showed an interest in bringing Leonardo to the Emirates in January, only to be pipped to the post by Benfica.
The report adds that Arsenal retained an interest in the 21-year-old and were in constant dialogue with his entourage throughout the summer, even though negotiations with Al-Hilal were taking place in the background.
Those talks did not faze Arsenal, but the Premier League powerhouses backed off once they learned that the Saudi giants were prepared to pay €40m (£33.7m) to bring Leonardo to the Middle East.
The Gunners were supposedly not prepared to go anywhere near that amount for the Brazil Under-23 international, who has now agreed a five-year contract with Al-Hilal until the summer of 2029.
Leonardo links up with Neymar, Ruben Neves, Sergej Milinkovic-Savic, Aleksandar Mitrovic, Joao Cancelo and Kalidou Koulibaly at Al-Hilal, where he is believed to be earning astronomical wages.
Will Arsenal regret not signing a new striker?
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Even before the summer window opened, it was striker this and striker that for Arsenal, who had witnessed Gabriel Jesus struggle with injuries and Kai Havertz endure a hit-and-miss first season.
Havertz ended the campaign with a flourish in the number nine role, though, and Mikel Arteta ultimately decided that the goalkeeping, left-back and midfield situations needed addressing first and foremost.
Few Gooners can argue that fact, and the stars were seemingly aligned for Havertz to keep going from strength to strength in North London and for Jesus to finally enjoy an injury-free campaign.
The latter's plans have already been scuppered by a groin injury, albeit one that should not sideline him for more than a couple of weeks, while Eddie Nketiah joined Crystal Palace on deadline day after growing tired of being a third-choice option.
Havertz still has makeshift backup in the form of Leandro Trossard and Gabriel Martinelli - who now have extra cover on the left in the shape of Raheem Sterling - so it is fair to say that Arsenal got their priorities right in the summer window, but a big-name striker could be on the agenda for 2025 if Jesus's injury issues continue to plague him.
