With Arsenal opting not to make a move for former captain Cesc Fabregas, Arsene Wenger's attention has switched to a number of new potential targets.
The Gunners will look to strengthen their forward line with real attacking talent this summer.
Here we look at the latest news and gossip surrounding three possible deals for the north London club.
Matt Law of The Telegraph writes that Wenger is in Sao Paulo ahead of Croatia's opening game against Brazil.
The Arsenal boss is a pundit for French TV and will use his time at the tournament to take a closer look at Mandzukic and other striking targets.
Mandzukic recently confirmed he will be seeking to leave Bayern Munich, citing that Pep Guardiola's style and tactics do not suit him.
He said, per Chris Waugh of the Mail Online:
I met with [Bayern chairman] Karl-Heinz Rummenigge before the cup final and told him I wanted to leave the club. I've had a fantastic time at Bayern. It's a great club and I never thought I'd want to leave, and especially not at this point in time.
But, let's be honest, I cannot play to my strengths under Guardiola's style—no matter how hard I try. I realised that after the 1-0 defeat by Real Madrid in the Champions League semi-final first leg and, that being the case, it's best for all parties that we go our separate ways.
Despite the 28-year-old's words, Mandzukic had a successful season under Guardiola's guidance, hitting the net 21 times in 40 Bundesliga and Champions League games combined, per WhoScored.com, and providing six assists.
The big striker would be perfect for the Gunners, with their over-reliance on Olivier Giroud hampering their bid for Premier League success last year.
Mandzukic would thrive on the supply line that would be available to him and provide Wenger with a genuine goal threat.
Marco Ruiz of AS reports that the player is likely to leave the Galacticos this summer, but that the fee for Morata will be in the region of 30 million euros for a club like Arsenal, who would not want to include a buy-back clause.
Morata has shown great promise for Los Blancos, but he is in the final year of his contract with the club and is likely to move on, per Ruiz.
Arsenal will face huge competition for the player's signature, should they pursue it, with Juventus also reported to have entered the race for the player.
Goal.com's Romeo Agresti tweeted about the Italian club's efforts to get Morata, but said a potential deal has stalled:
Morata is a young player with a huge future who would be suited to Arsenal's playing style. He would become a predator at the Emirates and could be worth significantly more that the 30 million euros it would take to purchase him in future.
Wenger would be smart if he turned his attentions to such a player because of his great sell-on potential and the quality he would add to the Gunners' forward stock.
But Sociedad president Jokin Apperibay insists the player wants to stay with his football club and not return to London. Apperibay said, per Sky Sports: "We are fortunate that the player is keen to stay in San Sebastian with us and that's an important factor for Real Sociedad."
Should Arsenal re-sign Carlos Vela?
Sky Sports reported that the Gunners still own 50% of Vela's rights and can activate a buy-back clause included in his initial sale.
Vela has looked excellent in the past 12 months and has matured as a player. If Wenger can bring him back to the Premier League this summer it would be a shrewd move.
Vela is indoctrinated in the Arsenal way and understands Wenger's philosophy, and despite Apperibay's comments to the contrary, a return to the club he joined as a teenager would surely appeal to the Mexican.