It is clear that the Frenchman plans to bolster his defence, midfield and strikeforce with the club struggling to hang on to fourth spot, and Champions League football, following their recent defeat to rivals Everton.
The Gunners are rumoured to be on the trail of Everton’s 19-year-old centre-back John Stones, who has impressed at Goodison Park since joining from Barnsley in January 2013.
However, Chelsea are also believed to be keen on the young defender, whose composure on the ball has earmarked him as one of the outstanding young prospects in the Premier League.
The Daily Mail's Simon Jones claims Arsenal have watched the England U-21 star several times and could be ready to table a bid.
Arsenal have also been linked with Real Madrid duo Casemiro and Alvaro Morata as Arsene Wenger continues his search for reinforcements.
The Mirror's John Cross reports that midfielder Casemiro, 22, and 21-year-old striker Morata have been identified as possible targets by Wenger, and with opportunities for both limited at the Bernabeu, a loan or permanent move to the Emirates could be on the horizon.
Mario Mandzukic is also on Wenger’s radar after missing out on Atletico Madrid’s Diego Costa, who is set for a summer move to Chelsea.
Bayern Munich striker Mandzukic could be tempted into a move away from the Allianz Arena with Robert Lewandowski joining from Borussia Dortmund this summer.
The Croatian has scored 24 goals this season, even though he has not been a regular starter, and according to Simon Yeend of the Express, the possibility of consistent game time could entice the 27-year-old into a switch.
Laurent Koscielny’s future will be resolved before the World Cup, with interest in the centre-back increasing from his homeland.
According to John Cross in the Mirror, the France international has promised to give the Gunners an answer on his future before this summer’s finals in Brazil.
Paris Saint-Germain, Monaco and Bayern Munich are all reported to be interested in the 28-year-old.
Eintracht Frankfurt right-back Sebastian Jung is being lined up as a possible replacement for Bacary Sagna, who has yet to agree a new deal with the club.
Metro’s Jamie Sanderson quotes Jung's agent Mino Grillo as saying: "In England we know Arsenal are very strongly on his trail for the summer."
The 23-year-old is believed to be valued at £7million.
The Daily Star’s Paul Hetherington has claimed that Manchester United defender Chris Smalling could be poised for a £13million move to the Emirates Stadium.
The versatile England international is comfortable at centre-back or right-back, positions that Arsene Wenger has identified for strengthening.
United boss David Moyes is expected to make wholesale changes to his squad this summer, and former Fulham man Smalling, 24, could be one of those moved on.