The transfer window is narrowing - due to close in the next two hours. So how are London's clubs faring? Find out here.
As Arsenal hope for a Champions League miracle, here's the other teams who pulled off the impossible.
Arsenal have been drawn against last season's runners-up Bayern Munich in the last 16 of the Champions League.
Arsenal striker Nicklas Bendtner has apologised after being arrested on suspicion of causing criminal damage at his luxury apartment block.
The 25-year-old Arsenal striker was held by police in Hertfordshire yesterday in connection with damage to an apartment building where he lives in Bushey.
Writing on his Instagram account, he said:
"As we arrived at the gym my key fob changed the colour from red (locked) to green (open) but the door remained closed. We thought the door was stuck so we tried to open it and it caused some damage. I apologise for any inconvenience for my neighbours and I have paid in full."
Arsene Wenger added that a successful season with Arsenal can only help drive their World Cup hopefuls on to success in Brazil.
Jack Wilshere, Kieran Gibbs, Theo Walcott, Alex Oxlade-Chamberlain and even full-back Carl Jenkinson are all in contention to make Roy Hodgson's England squad for next summer's tournament.
Arsene Wenger said: "You do what is right for the club. If the players can do well at both levels that is even better. I remember 1998, (Patrick) Vieira and (Emmanuel) Petit had an outstanding season here and they won the World Cup after (with France), so the positives of one go into the other.
"When England fly over there, you will not write on the plane 'you cannot win it'. They are not favourites, but it is a very open competition and to me it looks like once you are in the quarter-final, you cannot rule them out."
Jack Wilshere's ankle injury means he will have to be carefully managed if he is to make it through the season. However, Arsenal manager, Arsene Wenger added he had been assured by the club's medical staff that there was no long-term issue.
Wilshere has been playing with the injury and is fit to face Southampton on Saturday after coming through the international break unscathed. Arsene Wenger said:
"We play 60 games per year and Jack will certainly have to be managed - unless his pains go completely, then he will be used when needed. If there is an alert on his ankles, we will of course take advice from the medical department and use him when he can really be used."
Arsenal will be without England midfielder Jack Wilshere in Germany tomorrow as he recovers from an ankle injury.
Wilshere missed Arsenal's training session this morning but is expected to return for Sunday's Premier League match with Manchester United. Full-back Kieran Gibbs will also be sidelined for tomorrow's game against Borussia Dortmund in the Champions League because of a hip injury.
Police are warning fans heading to tonight's League Cup game between Arsenal and Chelsea to allow more time to get there after a lorry overturned in Finsbury Park.
Tonight's match kicks off at 7.45pm at the Emirates Stadium. Stroud Green Road has been closed off between Upper Tollington Road and Seven Sisters Road. Police say it may not fully reopen for several hours.
Arsene Wenger also spoke about Jack Wilshere's ankle. He said he was not "overly concerned", but will keep a close eye on his fitness. Wilshere will be assessed ahead of Saturday game after being substituted during the second half of the midweek Champions League defeat to Borussia Dortmund.
Arsene Wenger believes with careful management, Wilshere can maintain his fitness following a frustrating spell on the sidelines which scuppered his hopes of playing at both Euro 2012 and the London Olympics: Wenger said:
"No it is not a major problem, but as I told you before the season started I will have to monitor him until he is completely through that period with any doubts and that is what I tried to do."
Arsene Wenger has hit out at Crystal Palace's decision to move on from manager Ian Holloway ahead of Arsenal's trip to Selhurst Park on Saturday. The decision was taken following a 4-1 defeat by fellow-strugglers Fulham which left the Eagles five points adrift of safety in the Premier League.
Arsene Wenger said it was "very harsh on Ian Holloway", because he had done exceptionally well with Crystal Palace.
– Arsene Wenger
I am quite happy that we have shown to you that we are not scared to spend money when we think the players have the quality and we have the funds available to do it.
I believe we have a huge advantage in that our club is well respected all over the world because we have values, because we are not artificial, because we are based on tradition, we are as well forward thinking and we give a chance to young people who deserve it.
That is for me something that is very important to preserve.
Arsenal manager Arsene Wenger says the club is ready to spend again on buying more world-class talent, like Mesut Ozil. Wenger spoke as Arsenal held their annual general meeting, having smashed their transfer record with the £43 million deadline day signing.
However, Arsene Wenger told shareholders the club was not about to abandon its long-standing principle of youth development.
He said: "The development of our club has to be based on the intelligence of our eye. That means players who are unknown and who can become big players here, through our connections, the quality of our scouting, through the quality of what we have seen in them and how they could develop.
"Then, part of our development and ambition is to scout and buy recognised world class players. This season for example we have bought Ozil. You don't need any scout to buy Ozil. You just need money.
"I am quite happy that we have shown to you that we are not scared to spend money when we think the players have the quality and we have the funds available to do it."
Former England footballer Stan Collymore has defended Roy Hodgson after the England manager was forced to apologise for a half time joke.
The former Liverpool and Nottingham Forest striker went as far as suggesting the row was undermining efforts to fight racism in the sport.
Racism is hard enough to keep on the agenda as it is without making everyone think a legitimate space tale should be a cause for offence.
Demeans every anti racism campaigner by having cheap pop at RH who said NOTHING WRONG. Makes campaigners seem over PC & petty. They're not.
Wayne Rooney and Andros Townsend have both defended their manager and questioned why there has been such furore over the incident.
However, equality group Kick It Out have called for an investigation into the comments.