It has been reported in various news sources, such as The Guardian and the Daily Mirror, and the Independent, etc etc, that Thierry Henry to Arsenal on a loan deal for 2 months (similar to Landon Donovan to Everton).
The rumours come about because last week in the weekly press conference, Wenger refused to rule it out. Of course, what most reports conveniently forgot to mention was this:
""I haven't even investigated that," said Wenger.
"I cannot tell you even if there is a chance because I haven't even made any approach, not to him nor his club.
"I do not always master all my thoughts so it has to come through my brain at some stage but I haven't been concrete on the case."
I'd love it to happen, largely for sentimental reasons, but it just doesn't look likely.