It has become a summer ritual - the departure of another member of the Arsenal side that went undefeated while winning the Premiership title in 2004.  Since the summer of that year Sol Campbell, Ashley Cole, Robert Pires, Lauren, Edu, Ray Parlour, Sylvain Wiltord and Patrick Vieira have all left for new pastures while Dennis Bergkamp chose the end of the 2006 season as the time to retire. And now, the man who over the last eight seasons has been the brightest of all the Arsenal stars, has also left the club.

With Thierry Henry leaving Arsenal to join Barcelona only four players (Lehmann, Toure, Gilberto Silva and Ljungberg) remain from the accepted starting eleven from thirty-six months ago. Reaction from Arsenal fans to the latest departure will be interesting to say the least with initial indications being a clear polarization of views.

One group seeing Henry’s departure for $33M as being a piece of good business for a soon-to-be 30-year-old with a sciatic nerve problem that is likely to be a constant problem; the other group viewing it as the loss of another iconic player without an adequate replacement on the horizon.

Views on the subject are perhaps dependant on three key questions.
1. Should Wenger have tied harder to keep the 2004 team together and if so would Arsenal have collected more trophies by doing so?

Looking back on it the signs were there that rather than being the team to beat, the Arsenal team of 2004 was in fact at its peak and was heading down rather than going onto to dominate the Premiership and Europe. Roman Abramovich had already bought Chelsea and with Claudio Ranieri in charge Chelsea knocked Arsenal out of the Champions League at the quarter final stage in 2004. Manchester United put Arsenal out of the FA Cup around the same time.

Wenger did in fact maintain the core team (Edu, Wiltord and Parlour had only started 37 games in total the previous season all left Highbury after the 2004 season) for the 2005 season. The FA Cup was won and Arsenal finished second to Chelsea in the Premiership. But, was at that point that Arsene Wenger decided his team needed to be rebuilt. All the evidence points to the fact that just one season after going a complete league season unbeaten Arsenal was in decline.

2. How do the replacements stack-up against the 2004 squad in the short and long-term?

Although Cesc Fabregas was on the Arsenal squad the year before Patrick Vieira’s move to Juventus it is fair to consider Fabregas as the Frenchman’s replacement. The same would be true for Clichy and Ashley Cole. The others would be Van Persie, Adebayor, Hleb, Rosicky, Gallas and Eboue.

In the short term only Emmanuel Eboue has slipped seamlessly into the Arsenal first eleven while replacing Lauren. Clichy is almost a clone of Cole and in another season or two he may match the now-Chelsea full back.

Van Persie has shown hints that he has what it takes to become one of the world’s best strikers but last season he started less than half the Premiership games last season through injury. 

Adebayor is no Dennis Bergkamp and was never intended to be. In fact Wenger wisely chose not to look for a direct replacement for the iconic-Dutchman and instead opted for a different look up front. Adebayor has proven extremely effective at providing Arsenal with a long-ball option but it is doubtful that Togo striker will be ever be a consistent starter at a top class club.

The jury is still very much out on Alexander Hleb although Rosicky made a promising start to his Arsenal career last season. In defence William Gallas was another who missed a good chunk of last season through injury. Even then a good number of his games at the start of the season were at left back.

When he played in his favoured position at centre back the Arsenal defence often looked less than convincing when high ball were played into the box. Gallas maybe one of the world’s best defenders but the partnership with Toure may not be the best answer for Arsenal.

Finally back to Fabregas. An incredible talent that Wenger has decided to rebuild is midfield and team around. But he is still very much a work-in-progress. (Fabregas could have been playing at the FIFA Under-20 World Cup this summer). At this stage in his development Fabregas can’t carry the kind of load that Vieira could but in the long term the youngster could become one of the world’s great players.

3. Does Wenger dip into transfer kitty to replace Henry and if so who does he sign?

Wenger has no option but to sign a new striker or probably two. With Van Persie and Adebayor the only front line strikers Arsenal is badly exposed at this point. The young Mexican striker Carlos Vela is only 19 and it is unlikely that he will arrive at the Emirates until sometime next year – probably the summer. So who will Wenger go after?

If you were to create an identikit of Henry’s replacement it might look something like this. Under 26 years-old with his best days ahead, international experience, comfortable on the ball, good in the air and with the potential of 20-30 goals per season. A player like that is going to cost a few bucks but with $33m from the sale of Henry plus whatever other money is in the kitty already, Arsenal should be able to afford the asking price.

First off who does this exclude? Michael Owen for starters, as well as Miroslav Klose and Nicolas Anelka – although I admit that the return on Anelka might be intriguing it may also be a bit masochistic as far as the Arsenal brass is concerned. David Trezeguet also fails the identity parade.  

Adriano might be available but who knows where his head is at. David Villa of Valencia apparently wants to stay in Spain although with Barcelona now top heavy in strikers the Nou Camp appears to be out. Ryan Babel (Ajax) is a name that has been linked with Arsenal in the past although he has yet to show that he is capable of scoring goals at a rate that Arsenal would expect.

The one player that seems to tick all the boxes is Atletico Madrid’s Fernando Torres. To land Torres Arsenal may have to outbid Liverpool but they may have a potential ace up their sleeve. Arsenal still own Jose Antonio Reyes and he might be dangled in front of Atletico in order to seal the deal.