As a venerable old English institution Arsenal pride themselves on conducting their business quietly, though the lack of activity in North London this summer has aroused concern among even their most loyal supporters. Arsène Wenger’s best work is usually done on the training pitch rather than in the transfer market, but with their rivals all investing heavily, the Frenchman’s reluctance to strengthen his squad is puzzling. There are a number of factors that could determine the fate of Arsenal’s season.

Impact of Thierry Henry’s departure

Having scored 226 goals in 369 games Arsenal will undoubtedly miss the cutting edge provided by their leading scorer, though the extent of his loss in other areas is harder to assess. For all Henry’s importance, there was a growing feeling in recent seasons that the France striker overshadowed his younger teammates, and he certainly lacked the selflessness required to be an outstanding captain. Wenger hopes that Cesc Fàbregas and Robin van Persie will be liberated by his absence.

New signings

Wenger reacted quickly to Henry’s departure by signing Eduardo Da Silva, the Brazil-born Croatia striker — whose application for a work permit will be heard by Home Office officials today — but is planning to start with Van Persie and Emmanuel Adebayor as his first-choice strikers. Eduardo can also play on the left, which may be necessary given the sale of José Antonio Reyes to Atlético Madrid, though Arsenal’s squad still looks to be short of at least one forward as the manager has acknowledged.

Wenger has asked Newcastle United about Obafemi Martins, the Nigeria striker, but been put off by the club’s £13 million asking price.

Captaincy

Wenger has yet to announce who will take over from Henry in a straight choice between William Gallas and Gilberto Silva. The France defender wore the armband as Arsenal won the Emirates Cup last weekend, but as vice-captain Gilberto is the man in possession and his calm temperament makes him a more suitable choice.

Stars of the future

Nicklas Bendtner, the 19-year-old Denmark forward, has returned from a loan spell at Birmingham City to fill the role of the club’s fourth striker, while Denilson, Abou Diaby and Theo Walcott are likely to be given more opportunities in midfield this season.

Fran Merida, a 17-year-old Spaniard, will play in the Carling Cup after being touted as the new Fàbregas while Wenger could recall Carlos Vela, the Mexican striker on loan at Osasuna after he qualifies for an EU passport.

Arsène Wenger’s contract

Such is his importance that Wenger’s failure to extend a contract that expires next summer would immediately jeopardise much of the stability he has brought to the club, though the board are reasonably relaxed about the manager’s position. In a little less than 11 years at Arsenal, Wenger has made a habit of leaving everyone guessing, though with initial talks having gone well he is expected to sign sometime in November and December.

Takeover bid

Stan Kroenke, the American businessman, and David Dein, the former vice-chairman ousted four months ago, are discussing how they can work together to force a takeover. Rumours of an imminent offer swept the City two weeks ago, though given that the existing board pledged not to sell their shares for at least a year last April and a failed bid would lead to another 12 month cooling-off period, Kroenke is planning to wait until the end of the season. With a battle for control of the club on the cards, next summer is likely to be far from quiet at Arsenal.