Earlier in the week I “chastised” our on-line editor for being too pessimistic. The press was full of all sorts of reports about who was going to be coming and going at Ashburton Grove this week. Not for the first time, the press – with all their wonderful sources – got most of it wrong. But where do this week’s events leave Arsenal? Much the stronger I think. Let’s look at the deals which happened and those which did not:

Gallas and cash for Cole? Excellent business. We get one of the best defenders in the world, more versatile than the wonderful Thuram and five years younger. He is one of TH14’s best friends, can play anywhere in the back four, is fast and very experienced. We get rid of a stroppy little so-and-so who got too big for his left boot. Remember when Silvinho and Gio went to give Cole his chance, everyone thought AW was mad. Now Clichy and young Traore can have their chance. And if a player called Ryan Garry ever plays again for Arsenal remember who told you he is an excellent left-sided defender!

Baptista for Reyes? Not quite like for like, but a good deal nonetheless. I am sorry for Reyes as he never lived up to his potential. But maybe it was too much to expect a gypsy boy who apparently never spoke Spanish until he was 16 to learn English and settle here; even more so, if the reports that TH14 never really liked him are true. Baptista will give us real physical presence up front, a kind of sophisticated Hartson and Ashton combined. My Spanish contacts tell me he was awesome for Seville and then never really had a chance at Madrid. He was played on left midfield when Zidane was not available, i.e. rather like TH14’s experience at Juve.

Denilson? Well, one has to assume the Brazil under-19 captain will be a reasonable player. He has two Brazilians to settle him in.

No Tevez or Mascherano? I have to say I never expected that bonded slavery would re-appear so quickly in 21st century Europe. If they have a good first half of the season, who’s to say they won’t be off to Barca or Milan? Even if they play for West Ham in the UEFA Cup they will still be allowed to play for someone in the CL in second half of season. Anyway, they won’t be there for more than one season. Well done to Arsenal, Man U and others for not being prepared to be the basis for speculative investors from outside the game. (Ed’s note – the Glazers?)

And what of the other rumours? Buffon? I never quite believed that one would happen. Reo-Coker? He would be a good player for Arsenal, but West Ham won’t need to sell now; and playing alongside Mascherano will help make him into an awesome player – good enough to replace Fat Frank Deflection Lampski for England. The Scottish and Japanese strikers with whom we were linked? They may well arrive; don’t be surprised if there are a couple more young players signed in the next few months even if we don’t see them play before January. I think that Arsenal has first option on the Scottish striker they had on trial but they want to see how well Bendtner does at Birmingham. If he does well, I expect he will come back in January and we probably won’t buy the Scottish boy.

But surely the most remarkable deal of the week was persuading Villarreal to pay £2m for Cygan. After struggling to give Sol away, getting someone to pay cash for Cygan is a stunning achievement. How did they do it?

Keep the faith! Arsene knows!