Fast-forward to Saturday and Arsene Wenger's side are being booed off the pitch on the first day of the season to the anguished cries of "spend some money" following a humiliating defeat to Aston Villa.
The anger is not just restricted to the supporters, with honorary vice-president Lady Nina Bracewell-Smith taking to Twitter to express her "regret" at selling her 15.9 per cent stake in the club to Stan Kroenke in April 2011.
It has been a disastrous, incompetent summer for Arsenal and, frankly, they paid the price that they deserved this weekend.
The responsibility for the shambolic window to date, with free transfer Yaya Sanogo the only arrival, lies with Kroenke, the board, Ivan Gazidis and, of course, Wenger.
After a weekend in which Chelsea owner Roman Abramovich broke his silence for the first time in 10 years with a message to supporters in the Blues' matchday programme, 'Silent Stan' continues to show zero leadership or ambition in north London.
We know Arsenal have money to burn. Gazidis arrogantly boasted about the club's spending power earlier in the summer but their £70 million-plus warchest remains untouched despite 17 players leaving.
Wayne Rooney, Luis Suarez, Gonzalo Higuain and Luiz Gustavo have all been summer targets but they are either staying at their clubs or have moved elsewhere. Now Arsenal, forced to cope with an untimely injury crisis, are restricted to panic buying between now and September 2.
"How they could do with some focus in the boardroom, a David Dein figure to bring Wenger into line, to play the game when it comes to negotiating transfers. Those who have dealt with Gazidis have confirmed the suspicion that while the chief executive is an effective administrator, he has never grasped the murky world of agents and the transfer market.
That world used to be Wenger's kingdom but, as scouting networks elsewhere have caught up and the market has inflated, he has failed to adapt to the times. To sign the very best players, you have to pay top dollar.
Wenger has appeared out of touch with the transfer market for a while now and subsequently finds himself under enormous pressure as he prepares for a crucial Champions League qualifying tie against Fenerbahce.
"Even if you go on the Eiffel Tower and you throw the money away, you play with the players you have," was the Frenchman's curious response to fierce questioning on Saturday as #WENGEROUT trended on Twitter.
Wenger is in talks over a new contract - his current deal expires next summer - but Arsenal should scrap those plans and make him earn it. No individual should wield so much power at a club, particularly when it has been eight years since they last won a trophy.
The defeat to Villa is not the end of the world - they have 37 more games to pull it back - but, unless there is a dramatic change in policy, leadership and direction between now and September 2, the signs are already ominous in north London.
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