Arsenal Transfer News: Major Names Targeted on Arsene Wenger's January Shortlist

Arsenal's hunt to finish among the top four of the Premier League is as fierce as ever this season, and the club's January transfer dealings look likely to have a grand bearing on their success.

The addition of Southampton and West Ham United as some of the sides impressing early on means restrengthening this winter will be of crucial significance to how the Gunners' campaign pans out.

Read on for a breakdown of the latest speculation to hit the Emirates Stadium, with midfield recruits looking likely to become of particular importance to manager Arsene Wenger.

Isco

Gonzalo Arroyo Moreno/Getty Images

Arsenal have long been tied to the talents of Real Madrid maestro Isco, and his suitors this week found out precisely how much they'll have to pay in order to land his services.

According to the Express (h/t Daily Star's Jonathan Green), Arsenal and Liverpool would have to fork out a gargantuan £64 million in order to sign the Spanish international.

Shaun Botterill/Getty Images

Green went on to say that Arsenal, along with the also interested Liverpool, will "step up their pursuit" of the midfielder now that a firm figure is clear.

However, despite Real's apparent reveal of how much Isco would cost, the Guardian's Noorrudean Choudry envisions Carlo Ancelotti's side will hold on to a player they hold highly among their ranks:

Despite contending with stellar competition during his time at the Bernabeu, Isco has always impressed when called upon, and is one of the more versatile assets, able to play centrally, out wide and even in a No. 10 capacity.

That profile might appear to fit some of the talents Wenger already has at his disposal, but it doesn't appear to be lessening Arsenal's intrigue in a player who would reportedly break their transfer fee record once more if signed.

Yohan Cabaye

Michel Euler/Associated Press

It seems increasingly likely that former Newcastle United star Yohan Cabaye will complete a Premier League comeback in 2015, and Arsenal are in pole position to acquire his skill set.

Prior to his Parc des Princes switch in January of this year, Cabaye was hotly linked with the Gunners, and Anthony Chapman of the Express says an Emirates move still intrigues the anchorman:

"Arsenal, United and Liverpool are all plotting £19 million moves for the 28-year-old, but reports in France claim that Cabaye is keen on linking up with Arsene Wenger at the Emirates."

Dean Mouhtaropoulos/Getty Images

With youngster Adrien Rabiot having performed a U-turn in contract negotiations by extending his deal in the French capital, Laurent Blanc's engine room has more competition than ever at present.

The suggestion is that Cabaye could be the figure sacrificed in order to finance future moves, according to Jonathan Johnson of ESPN FC:

The French international would undoubtedly find first-team chances easier to come by in north London were he to make the £19 million switch, and he could be an ideal complement to the likes of Aaron Ramsey and Jack Wilshere.

Petr Cech

Paul Gilham/Getty Images

One figure it seems Wenger won't be making a move for this winter is Petr Cech, who despite appearing close to the Gunners in recent months, isn't being looked at as a priority.

Vaishali Bhardwaj of Metro reported this weekend that Wenger "firmly quashed" reports of Cech's potential signing before his side's 1-0 win over West Brom on Saturday, but the Frenchman added:

"

January might be a month when we have nearly everybody back because [Laurent] Koscielny is back in the squad, [Mathieu] Debuchy will be back I think in two weeks. We have gone through a period where we are very short but we discovered as well that players have learnt their job well in the centre back position, like [Nacho] Monreal and he is doing very well now. In January we will of course try to get at least one body in.

"

Supposedly rated at just £7 million, Cech could be an extremely valuable pickup, but with Wojciech Szczesny in goal, it seems Wenger is eager to put his faith in the Pole.

It's no secret that Thibaut Courtois' form has left Cech frustrated on the Blues' bench, but Jose Mourinho is sure to do all he can to ensure his stellar back-up remains at Stamford Bridge.