Arsenal Transfer News: Breaking Down the Gunners' Best Transfer Options

The January transfer window is open, which means it's time for Premier League contenders to start searching for the players to help them reach this season's goals. Among those contenders is Arsenal, who will be looking to make a big splash after a tumultuous summer window.

Since the Gunners have at least a minor need in nearly every area, there will be no shortage of rumors linking them to potential acquisitions. That's especially true following a strong stretch of play by the team, which has brought them back into the thick of things.

Here are five players that would be good targets for Arsene Wenger.

Nick Powell

Crewe Alexandra midfielder Nick Powell has generated a lot of hype for somebody that's only 17 years old. Alan Nixon of Mirror Football reports that both Arsenal and Chelsea are interested in the dynamic attacker with hopes of him developing into a star.

He's still getting his feet wet at the club level with the Railwaymen, but turned heads with his performance as a part of England's under-17 national team. Powell scored five goals in 17 games and showed off some real poise in front of goal.

Battling the Blues for him isn't an ideal situation for the Gunners, since it will likely drive the price up, but he'd be a good long-term investment. Too often during the window, managers tend to focus too much on the present and forget to bring in young players before their price skyrockets.

Esteban Granero

Esteban Granero hasn't been getting the playing time he deserves at Real Madrid. That should mean a move would be smart for both sides. It's been reported by The Sun that Arsene Wenger has been in contact with Jose Mourinho about a possible agreement.

The 24-year-old Spanish midfielder hasn't started a single La Liga game this season and it's hard to maintain any level of form with such limited playing time off the bench. More game action would be a guarantee at Emirates.

At a rumored £6 million, Granero would be a good value buy for Arsenal. It would take some time to get back up to speed, but he would be a fixture in the starting lineup once he did. Especially since the team is dealing with so many injuries in the midfield.

Jan Vertonghen

Ajax captain Jan Vertonghen has been linked to Arsenal for a while and now might be the time to finally acquire him. The Belgian defender is being pursued by both the Gunners and Tottenham, according to the Daily Mail.

Arsenal's defense has actually improved quite drastically since the thumping they received against Manchester United earlier in the season. Vertonghen could further solidify the back line while also bringing a little bit of offensive flair into the equation.

This is a situation where more teams could become involved if they know Ajax would be willing to move him, so Arsenal needs to act fast. At £10 million, the price might sound steep, but his value is likely to increase moving forward, so it won't be lost cash.

Eden Hazard

Manchester United are making a strong run at Lille star Eden Hazard based on a report from Christian Bailey of Caught Offside, but he also mentions Arsenal as a potential suitor. Few players in the world have been subject to more transfer rumors than Hazard in the past calendar year.

He's scored seven goals in 19 games for the French Ligue 1 side, mostly because of his blistering pace that is rarely matched by opposing defenders and midfielders. He also fits the mold of the new football prototype at 5'7'', which allows him to use his agility to find space.

Whenever the Red Devils are involved, you know the price is going to be high and Hazard is no exception at around £25 million.

If Arsenal wants to reestablish itself as a force in the transfer market, however, the Gunners will eventually need to start ponying up.

Mario Goetze

Goetze is another highly sought-after young midfielder who currently plays for Borussia Dortmund. Mirror Football's John Cross reports that Wenger is prepared to bid up to £30 million to acquire the German star, who continues to develop his game at a rapid pace.

The 19-year-old target has tallied 14 goals and 19 assists in 68 games with the Borussen and still hasn't reached his peak in terms of ability. His playmaking skills are intriguing because young players under a lot of pressure tend to become one-dimensional. It's a trap he hasn't fallen into.

There's no doubt that £30 million would be an extremely steep price to pay, even for a young talent like Goetze. That said, Wenger has had his eye on him for a while now and knows there will be competition.

It would be the major splash Gunner fans have been hoping for to boost their team's chances.