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While you can't hit the reset button on an actual Premier League or Champions League campaign, you can look to the summer transfer window and hope that an influx of new players will be enough to get Arsenal over the 4th place league hump and Round of 16 CL hump. FA Cup semi-finals notwithstanding, the English media is serving those Arsenal fans hoping to glimpse in the Summer 2014 crystal ball with a mess of new signing possibilities, starting with the top.
Manager
The hoopla over Arsene Wenger's 1000th game (which we admittedly contributed to) and the non-announcement of a new deal has some speculating that Wenger may be holding off on signing it, in order to (as the Guardian reported) step down to make way for Dortmund's Jurgen Klopp, Everton's Roberto Martinez, Liverpool's Brendan Rodgers, or Arsenal assistant Steve Bould. (Which might be credible, or might just be names you'd call to mind when asking, "Who could conceivably replace Wenger if he made a sudden exit?")
Defense
Speculation about Bacary Sagna turning down a new Arsenal deal to jump to Man City is fueling a number of rumors about replacements, including Southampton's Callum Chambers, Toulouse's Serge Aurier (who once famously fanned rumor flames by tweeting a photo of himself in an Arsenal jersey), and Eintracht Frankfurt's Sebastian Jung.
D-Mid
Those Lars Bender rumors are getting fired up again -- you'll recall that Arsenal was in for him last summer -- and according to the Mirror, Southampton's Morgan Schneiderlin could find himself in the middle of the park (no, not that Park) for Arsenal. And it wouldn't be a proper transfer rumor season without talk of Yann M'Vila, ready to test the Prem after his spell with Rubin Kazan.
Mids and Wingers
PSG's Jeremy Menez is allegedly a Liverpool and Arsenal target, but may be instead batting his eyes at Juventus. Another sexy player coming off a back injury, Dortmund's Ilkay Gundogan, is allegedly about to decide between staying in Germany or bolting to Arsenal or Manchester United. Since Bayern supposedly isn't interested in stockpiling more German talent, Julian Draxler (of the epic January transfer saga you might remember) has the green light to sign with Arsenal assuming Schalke doesn't stand in the way. And, of course, Antoine Griezmann is getting some rumor play after taking to social media to deny a move to PSG, which must mean he's headed to the Prem and won't just stay with Real Sociedad.
Forwards
Even though Wenger didn't want Olivier Giroud and Karim Benzema on the same Arsenal squad when this came up last time, there's another French striker allegedly on the radar for the Gunners -- QPR's Loic Remy, currently on loan to Newcastle. Back in January, PSG forward Edinson Cavani was favored by oddsmakers to leave Zlatan's giant shadow for Arsenal; SkyBet now has Cavani at 10-1 to go to Arsenal, behind Chelsea (3-1), United (4-1), and City (6-1). According to SkyBet, there are also 10-1 odds that Robin van Persie will return to Arsenal. One "certainty," though -- according to his agent, Olivier Giroud is staying at Arsenal, despite interest from Juventus and Roma, and despite rumors that Giroud's wife wants him to return to France, where infidelity does not exist.