Nerves will be jangling across north London this week. The days before derbies are always tense but Saturday’s showdown between Tottenham and Arsenal at Wembley is laced with delicious anticipation. There is so much at stake and plenty of cause for optimism - and nervousness - in both camps.
The first glimpse of the post-Sanchez era at the Emirates hinted that the Gunners exited the transfer window in better shape than they entered it. Even though a dreadful Everton side made it difficult to judge how good Arsenal were in their 5-1 victory, Pierre-Emerick Aubameyang showed the sort of movement and sense of purpose that has been lacking up front.
Henrikh Mkhitaryan seemed to be enjoying his freedom. Life under Jose Mourinho is purgatory for flair players. The Armenian will be able to express himself under Arsene Wenger. Mkhitaryan can pick apart a defence, a trait he shares with Mesut Ozil. Wenger is convinced that the pair can operate in tandem. They will be given a stern test by Spurs.
This is now Ozil’s team. Mkhitaryan takes some of the creative strain off the German but the 29-year-old’s new contract puts him at the heart of Arsenal’s on-pitch progress while a major transition is taking place behind the scenes.
For probably the first time in his nine years in the Emirates boardroom, Ivan Gazidis is imposing himself. The chief executive is in the process of creating a new management structure and there are underlying tensions with Wenger.
In this environment, it was brave of Ozil to extend his stay in north London until 2021. It means that he will be the man in the spotlight during what could be a period of turmoil for the club. He needs to show similar courage on the pitch. Ozil has to become a leader, something that has been lacking in his game. There would be no better place to make a statement of intent than in a derby.
Spurs can effectively end Arsenal’s hopes of a top-four finish. Their performance in the second half of the 2-2 draw with Liverpool at Anfield showed how compelling Mauricio Pochettino’s side can be and how relentless they are in applying pressure to opponents. Yet some old concerns surfaced.
In single games and across seasons, Tottenham struggle to finish things off. In the reverse fixture against Liverpool at Wembley in October they played like a team ready to compete with Manchester City. Then they lost meekly to Manchester United and Arsenal in two of their next three League games.
Yesterday, they appeared to have ground down Jurgen Klopp’s side and looked to be in a winning position with three minutes to go when Harry Kane was fouled and awarded a penalty that should have put Spurs 2-1 ahead.
Kane can be forgiven his miss - and it is credit to his mental toughness that he converted a second spot-kick for the equalising goal with virtually the last act of the game - but serious questions need to be asked about the way Tottenham allowed Mo Salah to wriggle through and put Liverpool into the lead in stoppage time.
Spurs were slack and distracted when they needed to be at their most focused. It has happened before.
Unlike Arsenal, Tottenham have some unfinished business to deal with before Saturday - the FA Cup fourth-round replay against Newport County on Wednesday. There may be a temptation to treat this as a throwaway game, especially with Juventus waiting in the Champions League three days after the derby. That would be a mistake. Spurs need to win something. They are reaching the point where they will stop being a team of the future and become a side that never quite got there. They cannot afford to write off the FA Cup.
There are two ways clubs keep their best players: by winning trophies or paying going-rate salaries. The most successful teams do both.
Spurs are doing neither. Kane is not even close to earning half of Ozil’s £300,000 per week. Other clubs can offer bigger bank balances and the promise of medals. Spurs need to step up on both counts. The balance of power has been shifting in north London but Tottenham have not quite stamped their dominance on the rivalry. Arsenal have a fresh look about them that will lift hopes. It should be some game at Wembley.