Obviously the next few weeks or at least the next few months will be vital. It's thought that Arsenal and Barcelona held out for a week to reveal the Henry transfer while Arsene Wenger secured his replacement. Who it is we don't know yet. But here's my thoughts on it... one that comes to mind would involve Jose Reyes, him plus cash for Fernando Torres could happen. Reyes has already been linked with Athletico so it's a big possibility. Other rumours link us with Adriano, Nicholas Anelka and Newcastle's Obafemi Martins and Michael Owen.

Now for me the last two are out of the question, Martins is a quality player but will never reach the heights of Henry. As for Michael Owen, when fully fit is one of the best. But he hasn't been fully fit for a good four years now for a lengthy period so signing him would be stupid as it would be a huge risk.

The other three however, I'd be happy to sign. Torres is a hard working, world class centre forward who's lethal in front of goal. He would bring something different to our team which we haven't really had during Arsene Wenger's reign. Not in the class of Torres anyway.

As for Adriano, another top, top striker. However, he didn't set the world alight for Inter Milan last season despite them winning Serie A. If I'm honest I haven't seen much of him this past season to give a real opinion. But from what I have seen of him in the past he’s someone who could definitely do the business for us.

My first choice though, would be Anelka. He didn't leave us on the best of terms 8 years ago, that's a given. But he is proven in England and we know what he's capable of in this league, as he's shown us on quite a few occasions. I'd welcome him back with open arms if I’m honest. He's just what we need right now. He shone in a mediocre, boring, negative side in Bolton Wanderers last season. In an attractive, attacking team like ours it would really show him to his full potential. Sign him up!

This is of course all speculation. So we shall see. A lot of people are worried or in non-Arsenal fans cases saying we're on a downward spiral and this is the end of the Arsenal 'glory days'. Let's not forget that Arsene has sold some of our best players on many occasions in the past. Only to come back within a year or two with an even better side than he had previously. In 99 he sold Anelka and everyone thought he was mad, a few days later he signs Thierry Henry who goes on to become the best player in the world. In summer 2000 we sold Overmars and Petit for a tasty sum. The following season we sign Robert Pires and Sylvain Wiltord and the season after we go on to win the double again and go a whole season unbeaten in the league away from home. Pires turns into one of the best midfielders in the world and wins the Football Writers Player Of The Year award even though he missed the last three months of the season.

The only real mistake Arsene has made was letting Patrick Vieira and Edu leave in the same summer. If we'd kept hold of Edu (who was our most under-rated player of recent years in my opinion) then I'm convinced we would've been a top two side the following season. Vieira is the only player the manager has never replaced. It did, however, give Cesc the chance to push on and give him vital experience in a very influential position in the team. His age and lack of experience and the fact he wasn't fully developed meant it was inevitable our team would suffer and drop down a peg or two. We were known as a team who had a big, strong and intimidating midfield. So we had to go through a transition period of the past two seasons. That transition period may not be over but I genuinely believe with the right signings and the fact that these young players are getting better with every game that we will improve next season.

When Vieira signed for Juventus it left a big hole in our side that we struggled to fill, it meant that we had to change our tactics and change the way we played. Henry leaving won't be like that. Vieira was a big intimidating presence in our midfield that teams feared. Teams fear Henry I know, but he drifted in and out of games, could literally contribute nothing to some games. Pop up with the odd goal in others. But if last season is anything to go by, as well as a few games in other seasons, we play better as a team without him.

When he's in the team he gets fed the ball and our players wait to see what he does and expect him to work miracles in every game. There was that and the fact that he always expected the ball if it was within his range, which he'd more than often get. That meant that the team suffered because everything had to go through him in every attack and it didn't always come off. Now he's gone our team can play more as a team and for each other. No more of Thierry standing around giving the stare when not receiving the perfect pass or when a team mate misses a chance or waiting for the ball and not doing any off the ball work. That can only be good for us.

We spent most of last season without him and managed to a win at Old Trafford, two draws with Chelsea, a 6-3 win at Anfield, two draws at Spurs, one of which coming from 2-0 down, a 3-0 whitewash of them at home and we got all the way to the Carling Cup Final, all without Thierry Henry.

We are selling Henry at the right time. We can say he was injured all of last season but the fact is he's not the player he was because he's lost that yard of pace that made him a world beater. Even when he was fit last season I could see he didn't have that electric pace of old. He won't get any better than he is now, he will only get worse. He may win every trophy under the sun at Barcelona but anyone playing in a team full of world class superstars would. The fee, if correct is not as much as we want but it's still a profit on what we paid for him, if not as much as we expected. Wenger will use the money wisely as he always has.

One of the reasons Thierry gave for leaving the club was because Arsene hasn't committed his future to the club. But if he actually knew Arsene like the rest of us he'd know that he never renews his contracts until they expire. He may indicate a few months before his current contract runs out that he will sign, but he doesn't renew it until the existing one has expired. Good reason Thierry…

My thinking is Arsene will sign a new contract next summer, he may even surprise us and sign one this summer to put our player’s minds at ease and attract more players to the club, I don't know. But I believe he will sign.

The reason being is that he is in the middle of a project at Arsenal. After moving us to a new stadium he's building a team that he's labelling 'Arsenal 4' or something like that. His fourth great side at the club after the double successes of 1998 and 2002 and the unbeaten side of 2004. Selling Thierry Henry may be a bigger indication than any that he's here for the long haul and he's building something for the future. I'm gutted Thierry is leaving the club, but I'm very excited at the same time.

Manchester United sold Van Nistelrooy and went on to win the Premiership, reach the semi finals of the Champions League, and the make the FA Cup Final all in the same season. Van Nistelrooy leaving meant Ronaldo and Rooney made the step up and became world beaters. This is the chance for RVP and Cesc to do the same, they have the talent. They've been around more or less as long as their Mancunian counterparts. So why can't they make the step up as well?

Obviously the next month or so will be vital. But my thinking is that the club will reveal Henry's replacement within the next week if history is anything to go by.

Fear not my Gooner chums; we have a lot to feel optimistic about!

And remember...

Arsene knows!