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Although their opponents only had three shots on target, Arsenal rued not putting their chances away throughout the game, and left themselves with little hope of ending their trophy drought this season. Three days later, Arsenal resumed their Champions League campaign with a Round of 16 clash against Bayern Munich. In the first leg of a very challenging tie at the Emirates, they slumped to a 3–1 first-leg defeat, with Podolski scoring against his old club to give Arsenal a slight chance in the second leg. Needing to lift the fans, Arsenal played relegation-threatened Aston Villa in sight of a third-straight win in the Premier League. Arsenal did so with a brace from Santi Cazorla either side of an Andreas Weimann equaliser to stay four points adrift of North-London rivals Tottenham, who they played the following Sunday.
Arsenal then produced a respectable performance in their next match against a struggling Queens Park Rangers in the Premier League, thanks to another late goal, this time from Mikel Arteta, following Stéphane Mbia's red card dismissal. Arsenal became the first side to have scored over six goals in two consecutive League Cup matches in this record breaking and inspiring display. They were drawn against League Two Bradford City in the quarter-finals and entered November on a high. However, the North London derby ended in bitter disappointment for the "red side of North London" as Tottenham ran out 2–1 following two goals in quick succession from Gareth Bale and Aaron Lennon late in the first-half, one of which being eventually cancelled out by Mertesacker's second goal for the club . Arsenal then had a 10-day wait before their return leg in the Champions League, due to Everton's participation in the FA Cup. Though many resigned the Gunners to defeat, Arsenal had a valiant attempt to knock out their German opponents by winning 2–0 on the night , crashing out on away goals.
Players
To signal the intent of reducing surplus players, Arsenal then announced that a £6 million agreement had been reached for the sale of Carlos Vela on 17 July 2012. Vela featured 62 times for Arsenal, scoring 11 goals, and he was the first member of the first-team squad to be sold in the summer transfer window. A week later Arsenal announced that defender Laurent Koscielny had signed a new long-term contract after a series of consistent appearances in the first-team last season. With the sale of Van Persie being confirmed by the club for a fee thought to be around £24 million, on 17 August Arsenal revealed that Thomas Vermaelen had taken over the captaincy from the Dutchman, with Mikel Arteta being given the position of vice-captain. A week later, Arsenal slumped to a controversial yet disappointing loss to the champions Manchester City as Koscielny was sent off in the ninth minute after fouling Edin Džeko in the penalty area.

With an upcoming fixture in the Champions League, it was believed that Vermaelen or Gibbs would have to return to play left-back. Arsenal started December losing 0–2 to aSwansea City side under Michael Laudrup, with two goals scored by Michu for Swansea late on, in what the BBC called "Arsenal's worst start to a season under Arsene Wenger". Consecutive losses were on the cards for Arsenal, as they named a weakened 18-man squad ahead of vital Premier League games for the club. Despite taking a 38th-minute lead with a low drive from Tomáš Rosický, Arsenal surrendered yet another lead with two goals in under 10 minutes from Ioannis Maniatis and Konstantinos Mitroglou to give Olympiacos a 2–1 win.
The Short Fuse
Soon after, Arsenal were subjected to a second consecutive Premier League loss against Chelsea at Stamford Bridge. Another poor start resulted in two goals conceded, which was a similar situation as their previous league defeat. Despite Walcott managing to pull one goal back in the second half, the game eventually ended 2–1, leaving Arsenal's hope of finishing in the top four in serious doubt. Some doubt was erased only three days later, as four goals in ten early second-half minutes meant Arsenal romped to a 5–1 victory over West Ham in the rescheduled match, originally to have been played on Boxing Day.

As the 2012 Olympics were being held in London, it was announced that Arsenal would not host the Emirates Cup tournament as part of their usual pre-season schedule, citing unnecessary increased pressure on London's infrastructure. However, Arsenal chief executive Ivan Gazidis stated that the Emirates Cup would be hosted by Arsenal in 2013, with a host of "top" clubs being lined up already. Arsenal returned to poor form in their next match however, as they played out a dull 0–0 draw with relegation-threatened Aston Villa, meaning the Gunners lost ground yet again on the top four sides. Yet again, Arsenal played out an uninspiring draw against fellow Champions League-chasers Everton. The game started well for the Gunners, as Walcott scored inside 52 seconds at Goodison Park, but Marouane Fellaini equalised just before the half-hour mark to level the score at 1–1, and so it stayed until the end, as Arsenal finished November in seventh place in the Premier League table.
SS Lazio 2013 Coppa Italia Final Macron Jersey
As the previous season drew to a close, Arsenal announced the release of seven players on 22 May 2012, five of whom played professionally for Arsenal, including Manuel Almunia, who made 175 first-team appearances for the club , and Gavin Hoyte who was the only other released player to receive a first-team cap . After conceding an early goal from Mohamed Diamé, Arsenal netted late twice, including Olivier Giroud's first Premier League goal. Following an international break, Arsenal travelled to Carrow Road to face third-bottom Norwich City, and lost 1–0 through a 20-minute Grant Holt goal after a Vito Mannone spill, in an unconvincing display from the Gunners. Their poor form continued in a Champions League clash with Schalke 04, conceding twice in a 2–0 loss , putting Arsenal second in Group B with three games to play.
Arsenal had plenty of chances throughout the first half and parts of the second, and Sunderland had the chance to equalise in the second-half, but it was Cazorla's ninth goal of the season that was the difference of the two teams. Shortly thereafter, Arsenal announced the loan departure of left-back André Santos to Brazilian club Grêmio until the end of the season. This came after the signing of Spanish international Monreal pushed Santos further down the pecking order.
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Arsenal made it 12 wins in all 12 games against Reading as goals from Gervinho, Cazorla, Giroud and Arteta ensured the Gunners ran out 4–1 winners (with Hal Robson-Kanu pulling one back for the Royals) and kept up their chase for the top four. Four days later, Arsenal surrendered another two-goal lead, this time created by Lukas Podolski and Giroud, into a 3–2 deficit following a brace for Dimitar Berbatov and a header from Alexander Kačaniklić for Fulham. Giroud scored in the 69th minute to level the game at 3–3, thus making the game the first time he scored in consecutive games, and two goals in one single game, but the Gunners were denied late on after Mark Schwarzer saved a penalty from Arteta which would have given Arsenal a 4–3 lead in the 90+5th minute. The draw meant Arsenal had won only one of the previous six Premier League and Champions League games , which piled more pressure on Arsène Wenger. With an uncanny resemblance to last season, Arsenal entered their first North London derby against Tottenham Hotspur on the back of a poor run of results, while still managing coming out as 5–2 winners against their bitter rivals, who were once again down to ten men.

Two goals from Giroud, and one each from Walcott, Podolski and Cazorla left the Gunners just four points off their north London rivals Tottenham in fourth. Arsenal then progressed into the fifth round of the FA Cup in another thriller three days later, with a 3–2 victory over Brighton & Hove Albion in the Falmer Stadium. Giroud scored yet another brace, and Walcott scored once to increase his goal tally to 17 for the season, as Arsenal set up a tie against Championship side Blackburn Rovers in the next round. A deflected free kick from Lukas Podolski late in the game and a brilliant display from debutant Monreal left the Gunners in a promising position as teams around them dropped points. For the first time in six attempts, Arsenal climbed the table to fifth with a 1–0 win over Sunderland.
However, they were the first team to defeat Bayern Munich at the Allianz Arena this season and the first team not to concede against Bayern all season, giving huge confidence to the team both defensively and offensively in the final ten "cup-finals" of the Premier League season. Arsenal stepped up once again to Wenger's rallying calls, as Arsenal recorded a second consecutive 2–0 victory in a tough encounter at the Liberty Stadium against Swansea. Goals in the second half from Nacho Monreal – his first for the club – and Gervinho kept Arsenal's top-four hopes alive. Arsenal's next match was after the international break, against a struggling Reading side who Arsenal had already scored 12 goals in two matches against this season .

Arsenal fans soon had further encouragement as striker Theo Walcott signed a new contract with the club, for an undisclosed length of time. Arsène Wenger said he was "delighted" to secure the contract of a "strong player and also a great person". Arsenal then entered the Christmas period with a Monday night fixture against then-bottom Reading. Cazorla scored his first hat-trick for the club, and also provided an assist for Walcott's goal, and the fifth of the match; Lukas Podolski opened the scoring inside 15 minutes.
2022-2023 New Soccer JerseysBack in the Premier League, Arsenal continued their increasingly frustrating habit of starting games slowly, going 2–0 behind against Liverpool inside an hour thanks to goals from Luis Suárez and Jordan Henderson. However, two goals in quick succession from in-form strikers Giroud and Walcott battled Arsenal back to a 2–2 draw. Following an injury picked up by Kieran Gibbs in that game, Arsenal rushed to complete a late signing of Spanish international left-back Nacho Monreal from Málaga on deadline day, for an undisclosed contract length and fee (thought to be around £8.5 million), though disappointed Gunners fans by not making a move for linked Barcelona striker David Villa. On a transfer deadline day that was dominated by the club's Premier League rivals, Arsenal only announced departures, as first team players Nicklas Bendtner and Park Chu-young departed on season-long loans, to Italian giants Juventus and La Liga club Celta de Vigo respectively. Despite manager Arsène Wenger stating that he is open to transfers before the window closes, Arsenal did not shadow the events of last season, in buying no players in the final week of the transfer window. Arsenal began a series a tough matches against Liverpool at Anfield, where the Gunners registered both their first goals and cards of the season.
This season, Arsenal finished fourth after having to close another large points gap between themselves and their North London rivals Tottenham Hotspur, who they beat 5-2 for the second season running. Along with news that Jack Wilshere and Theo Walcott were to return from injury soon, Arsenal fans were given more to cheer about as a spirited performance following Metersacker's sending off against West Brom lifted the Gunners temporarily up to fourth in the table. Two goals from Tomáš Rosický put Arsenal in a commanding position but a penalty scored by James Morrison on 71 minutes made for a nervy end as Arsenal eventually ran out 2–1 winners at The Hawthorns. Arsenal then started a period of three games in a week against Norwich, as a spirited comeback in the last seven minutes of the match ensured Arsenal went third in the Premier League table.