Players in: Gilberto Silva (Atletico Mineiro, undisclosed); Pascal Cygan (Lille, undisclosed); Fabian Carini (Juventus) loan.

Players out: Richard Wright (Everton, £3.5m); Rohan Ricketts (Tottenham, free); Alberto Mendez (released); Lee Dixon, (retired); Tony Adams (retired).

Last season: Champions

This season's odds: 6-4

Player to watch: Thierry Henry

Our verdict - Runners-up
After last year's Double glory, Arsenal might have to settle for second best this time. Arsene Wenger will be chasing glory in Europe too and he has scored a notable coup in the transfer market by signing a World Cup winner for a modest fee, but the coming months will determine how they cope with the absence of the inspirational Tony Adams.