It was never going to be a big-spending January window for Arsenal, given the activity in the summer window that saw the arrival of no fewer than eight players. The Gunners' only January signings of Evan Mooney and Jaden Dixon for the academy are both moves for the future.
I do not think many Arsenal fans would be surprised by the lack of signings. The team currently sits top of the Premier League, qualified first in the league stage of the Champions League and remain in contention for both domestic cups. This time last year, fans were crying out for a January striker who never arrived.
This year, I am confident in the squad we have to get the job done. Sometimes, no business is good business.
The injury to Mikel Merino, who is set for a long spell on the sidelines with a broken foot, is certainly a worry. However, sporting director Andrea Berta has proven his worth as a canny operator. If there was no suitable cover available for Merino, I trust his judgement.
There is a small irony in the fact that last year's lack of business and the injury sustained by Kai Havertz led to Merino's breakthrough into the team. This time, there is no such desperate need.
As a fan, you might dream of a flashy deadline-day signing, but that was never going to be the case for Arsenal this time around. The reality of the current squad is better than a dream and their stability might be exactly what is needed to secure the title.
Find more from Laura Kirk-Francis at the Latte Firm podcast