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Defender Calum Chambers was the target of two big-money bids from Leicester but Arsenal were adamant he would be staying put.
Having missed out on Lemar despite offering a late bid of £92m, Wenger failed to add to the earlier summer signings of Sead Kolasinac and Alexandre Lacazette despite only finishing fifth in the Premier League last season.
Other departures included Poland goalkeeper Wojciech Szczesny joining Juventus last month and Valencia signing defender Gabriel earlier in August.
Promising defender Cohen Bramall joined Jenkinson on loan at Birmingham while a host of young players were also moved on.