Another summer. Another quiet transfer window for Arsenal. Another disappointing season awaits.
Or at least, that is the prevailing narrative. Fans are unhappy, the media is baying for blood, and Arsene Wenger, once again, is getting tetchy as he is asked about the club's untapped cash reserves.
The problem with this narrative, of course, is that it is based in a world where football is 'won' in the transfer market, rather than on the field. The reality is different.
Last season Arsenal failed to sign a single outfield player before the season started.