Tottenham have been far busier than their north London rivals so far this summer.
Arsenal are on the verge of announcing their second new arrival in Christos Tzolis, after goalkeeper Illan Meslier joined earlier this month.
Meanwhile, Tottenham have spent nearly £250million, most notably bringing in Mateus Fernandes, Sandro Tonali, and Jan Paul van Hecke.
Those deals have directly played a hand in inflating the market, and have potentially made Arsenal regret not doing their business sooner.
They have missed out on their main attacking target Morgan Rogers, and little to no progress has been made on their pursuit of Bruno Guimaraes.
Be honest: Would you have been happy if Arsenal spent £117m on Morgan Rogers?
Mikel Arteta also wants to add defensive cover which has shot up the priority list following William Saliba’s back injury.
The Frenchman is expected to miss a large chunk of the start of the season, so it’s important Arsenal bring in an experienced top-quality option in his place.
Easier said than done, it seems.
According to journalist Ben Jacobs, the Van Hecke fee is already being used to justify asking prices for other defenders in the market.
Crystal Palace have pointed to it when setting Maxence Lacroix’s price tag — a defender linked with Arsenal.
From the selling club’s point of view, it makes sense. If Brighton could get £52million for a centre-back with 12 months left on his deal, then clubs with players in stronger contract positions can demand considerably more.
Tottenham’s Jan Paul van Hecke deal makes Ezri Konsa pursuit harder
Arsenal have been weighing up making a bid for Ezri Konsa, with Aston Villa valuing him at around £60million.
Andrea Berta has been hoping to negotiate that figure down, pointing to Konsa’s age and the two years remaining on his contract as reasons to pay less.
Who should replace William Saliba at Arsenal if his injury rules him out for months?
But Villa will point to Van Hecke’s fee, like they did to Elliot Anderson when setting the price for Rogers.
Brighton sold a centre-back with one year left for £52million. Konsa is an England international, has an extra year remaining, and has been considerably more consistent in the Premier League.
It seems steep, but Villa now have every justification to hold firm on their £60million valuation.
The transfer market has lost all sense this summer and Tottenham’s spending has been one of the main catalysts to that inflation.
Every time Spurs agree a deal at an elevated price, it shifts the goalposts for every other club operating in the same market.
Arsenal need a defender, and Konsa ticks a lot of the right boxes. But their price is a lot different from Villa’s and they may just have to turn to other options.
His England teammate John Stones has emerged as a serious option, with the former Manchester City defender now a free agent.
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