After hitting the ground running at the Emirates in 2021-22 and maintaining his strong performance in 2022-23, a third successive season as Arsenal number one appeared to be on the cards for Ramsdale.
The signing of David Raya on loan from Brentford initially made no difference to the Gunners' goalkeeping situation, but the Spaniard was promoted to number one after the September 2023 international break.
Arteta affirmed multiple times that he did not view either goalkeeper as his first choice, but it quickly became clear that Raya - thought to have been signed on account of his superior footwork - was the established number one.
Ramsdale also failed to cover himself in glory in Premier League matches with Raya's parent club Brentford last season, even though the Gunners won both games, and he is thought to be pining for regular minutes elsewhere.
Arsenal pricing Ramsdale out of permanent exit?
Several Premier League clubs, including Wolverhampton Wanderers and Newcastle United, have been linked with Ramsdale this summer, but the final week of the window is approaching without any serious bids for the Englishman.
However, Southampton - who are working without Gavin Bazunu until 2025 due to an Achilles injury - are apparently interested in taking Ramsdale on loan for the remainder of the campaign and could make an approach in the coming days.
The Saints will not obtain Ramsdale on the cheap, though, as Football Insider claims that the Gunners want as much as £6m to loan out the former Bournemouth and Sheffield United shot-stopper.
The report adds that Arsenal are open to letting Ramsdale leave permanently and would prefer that over a loan, but the goalkeeper is being priced out of a move due to the Gunners' £30m-£40m valuation.
The 26-year-old only signed a new Emirates deal at the end of the 2022-23 season, and those terms run until 2026 with the option of a further 12 months, but it is clear that he will be second fiddle again this term.
As well as Southampton, Nottingham Forest - who signed Matt Turner from Arsenal in 2023 - are said to be keeping tabs on Ramsdale, who has 32 clean sheets to show from 89 appearances in an Arsenal shirt.
Which goalkeepers could replace Ramsdale at Arsenal?
It has been a significant summer of change on the Arsenal goalkeeping front, with Karl Hein joining Real Valladolid on loan, Arthur Okonkwo signing for Wrexham permanently and Lucas Nygaard and Tommy Setford joining the academy ranks.
Should Ramsdale depart and Arsenal fail to replace him, one of the latter two would spend at least the first half of the campaign playing backup to Raya, a situation that should not develop due to their lack of senior experience.
Instead, Arsenal are apparently pressing ahead with a move for Espanyol's Joan Garcia, part of the triumphant Spain squad at the Paris 2024 Olympics, who is already rumoured to have agreed personal terms with the Gunners.
Experienced Wolves goalkeeper and ex-Arsenal academy product Daniel Bentley was also targeted, but the Gunners appear to have moved on from the 31-year-old.