A club-by-club transfer guide of the happenings on transfer day so far.

To properly comprehend the full dimensions of another mind-boggling Real Madrid transfer, it is perhaps worth going back to the base of it all. Or, at least, the beginning of Florentino Perez’s first stint at the club in 2000.

Arsenal have confirmed the departure of two players on season-long loan deals, with Johan Djourou and Francis Coquelin temporarily moving away from the Emirates Stadium.

Santi Cazorla is convinced Arsenal’s renewed self-belief will see them challenging for the Barclays Premier League title next season – by when they are expected to have £22million Argentina striker Gonzalo Higuain on board.

Olivier Giroud is convinced Arsenal can last the distance in the Barclays Premier League title fight next season providing they get off to a flying start.

Arsenal chief executive Ivan Gazidis accepts it will be a “big summer” for the club in the transfer market and re-iterated significant funds were available should manager Arsene Wenger wish to spend them.

Arsenal chief executive Ivan Gazidis is confident manager Arsene Wenger still has the desire to drive the Gunners on to success once more – and is in it for “the long term”.

Manchester City look set to strike a double early blow in the transfer market as they close in on the signings of Fernandinho and Jesus Navas.

Barcelona president Sandro Rosell has warned Arsenal to forget about signing striker David Villa during the January transfer window.

Barcelona president Sandro Rosell has warned Arsenal to forget about signing striker David Villa during the January transfer window.

Arsene Wenger has spoken about the pressure he feels he is under to bring success back to Arsenal.

ARSENAL

Robin van Persie tops the Premier League transfers so far this summer. Here are this summer's confirmed deals so far:

Arsenal midfielder Denilson will remain at Sao Paulo for another season, the Gunners have confirmed.

Alisher Usmanov fears the “pinnacle” of Arsenal’s ambitions next season will be just securing Champions League qualification again, as the Gunners face up to the prospect of seeing captain Robin van Persie leave.

Arsenal have confirmed the signing of striker Olivier Giroud from Montpellier.

Olivier Giroud could be confirmed as an Arsenal player later today after Montpellier president Louis Nicollin revealed a deal had been completed for the in-demand France forward.

Montpellier president Louis Nicollin claims Arsenal have completed the signing of France forward Olivier Giroud.

HE’s been the subject of boos and groans teeming down from the Emirates Stadium stands, but, according to Arsene Wenger, Andrey Arshavin has been great for Arsenal.

Arsenal midfielder Abou Diaby has undergone an ankle operation and will be out of action for up to 10 weeks, Gunners boss Arsene Wenger announced today.

Arsenal have confirmed midfielder Denilson has returned to former club Sao Paulo on loan for the 2011-12 campaign.

ARSENAL have turned to South America to sign promising Costa Rica striker Joel Campbell but three established Gunners look set for the exit door.

Gervinho may feel he will fit right in at Arsenal, but Gunners boss Arsene Wenger is likely to be facing a huge void in his squad when they return for pre-season training next week.

GERVINHO has broken his silence about his proposed move to Arsenal and revealed he expects it to be finalised in the next 24 hours.

IVAN GAZIDIS, the Arsenal chief executive, is a slick salesman, but the message from the club’s fans at present could not be clearer: This isn’t what we bought into.

OUR football correspondent LIAM MACKEY is back in top form and full of energy. He casts his eye over your comments and gives his own critical analysis of the goings on throughout the world of football. You may agree with him or then again you may not.

Arsenal will hand late fitness tests to midfielders Samir Nasri (hamstring) and Abou Diaby (calf) as well as full-back Gael Clichy (hamstring) ahead of Sunday’s Premier League trip to Fulham.

Midfielder Denilson wants to leave Arsenal, saying: “I’ve been here for five years and won nothing.”

Centre-back Thomas Vermaelen is set to return for Arsenal after nine months out with a niggling Achilles problem in the Barclays Premier League clash with Aston Villa on Sunday.

Centre-back Thomas Vermaelen could return for Arsenal after nine months out with a niggling Achilles problem in the Barclays Premier League clash at Stoke on Sunday.

Andrey Arshavin would be welcome back at Zenit St Petersburg if Arsenal decide to sell the striker, the Russian club have confirmed.

Arsenal full-back Bacary Sagna (knee) is set to return for tomorrow’s trip to rivals Tottenham.

Arsenal could welcome back goalkeeper Wojciech Szczesny from a finger injury for Sunday’s Barclays Premier League clash against Liverpool at Emirates Stadium on Sunday.

Arsenal will hand England winger Theo Walcott (ankle) a late fitness test for Sunday’s Barclays Premier League trip to Blackpool, but midfielder Alex Song (knee) misses out.

Arsenal will welcome back captain Cesc Fabregas (hamstring), England winger Theo Walcott (ankle) as well midfielders Alex Song (knee) and Abou Diaby (groin) for tomorrow’s Barclays Premier League clash against Blackburn at Emirates Stadium.

ARSENAL manager Arsene Wenger will welcome back four key players from injury for tomorrow’s Premier League match against Blackburn at Emirates Stadium.

Arsenal manager Arsene Wenger will welcome back four key players from injury for Saturday’s Barclays Premier League match against Blackburn at Emirates Stadium.

WE might’ve been better off if Arsene had been banned from the dugout instead of Fergie?

West Brom 2 Arsenal 2

Jens Lehmann is among Arsenal’s substitutes for the Premier League clash with West Brom at The Hawthorns.

Veteran goalkeeper Jens Lehmann will take his place on the Arsenal bench at West Brom tomorrow after agreeing a short-term deal to return to his old club.

ON Saturday evening, when Alex Ferguson sent out a team consisting mostly of full-backs, it seemed likely that the post-match analysis would focus on the poverty of United’s squad, and how the club’s indebted owners are bleeding away their ability to compete.

John O’Shea and Darron Gibson are both surprise starts in Manchester United’s starting line-up to face Arsenal in this evening’s FA Cup quarter-final at Old Trafford.

Arsenal will be without captain Cesc Fabregas for tomorrow’s FA Cup quarter-final at Manchester United after the Spain midfielder aggravated his hamstring problem in the midweek Champions League defeat to Barcelona.