I posted about this in another thread. Take a look at the proposed lineup for Arsenal against Liverpool and Leicester. It will take a minor miracle for Arsenal to get points from those games with the team as is.
There isn't a single club in the world that fancies itself amongst Europe's elite that would sit still and start the first few weeks of the season with such a weakened lineup. Instead, Arsenal will try to low ball some clubs in desperate need in cash on deadline day.
How many points will Arsenal be behind the leaders at that point? Given the big moves all of Arsenal's rivals have made, a poor start this season and any hope of a title challenge could be over before September is done.