Despite being as poorly chosen a signing as Wenger could have made, there are rumours the midfielder could be brought back to the club next season.
He signed 31-year-old Swedish midfielder Kim Kallstrom.
The Swede ended up making just 4 appearances for the Gunners, despite injuries to other central midfielders such as Jack Wilshere, Mesut Ozil and Aaron Ramsey.
That the former Lyon player could make so few appearances despite being available for the last two months of the season indicates one of several perspectives Wenger must have held when signing him.
Either he was only ever signed as backup, despite central midfield arguably being the position Arsenal were most well stocked. Or it was a low-risk (or so he thought) signing made to appease the fans that craved a transfer of some kind.
Whatever it was, it was astonishing that Kallstrom was the sole January transfer target that Arsenal managed to bring in. There are even rumours that Kallstrom may be set for another spell at the club. Should that move go ahead, that will of course be an even more bizarre decision, and a quite worrying sign of Wenger's transfer intentions.
Now of course, Kallstrom isn't a poor player, though it is touch and go whether he is better than any of the midfielders on Arsenal's books, and the injury that he carried when he came into the club detracted from what may have been a more valuable input in the Gunners' season. But if Wenger would have invested in a striker of comparable quality in January, it isn't beyond reason to imagine Arsenal could have gone on and made a more prolonged title challenge, not to mention progress further in Europe.
Arsenal were top of the league at the end of the transfer window, though there were already indications that Olivier Giroud may be suffering a dip in form. As it turned out, Wenger was happy enough to persevere with young French striker Yaya Sanogo up front as an alternative to Giroud. With no goals in 14 appearances, and Arsenal finishing the season in 4th spot, it's pretty clear to see that may not have been the best decision.
Inevitably the Gunners boss is on the look out for forward reinforcements this summer, though that was on the agenda this time last year too. Let's hope Arsenal get another title shot sooner rather than later, and when they do, they'll have a little more firepower around the place.