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London's executive director Ivan Gazidis promises an active summer in the club's player market.
The capital's team has not won any trophies since 2005, although in the second half of last season they still had the opportunity to win up to four tournaments.
"It is clear that we have gaps, so we will try to fill them," Gazidis said in a meeting with fans. "Like you, last season disappointed me a lot. It seemed like it could be special, but in the end, the same history of failures repeated itself.
There will be new footballers, and some current ones will leave. As coach Arsene Wenger said, a busy summer awaits."
However, he added: "Nevertheless, last season was not a tragedy, that must be acknowledged. We will have to determine what exactly needs to be changed and what to keep according to our financial capabilities."
