Arsenal Transfer News: Latest Rumours on Riyad Mahrez and Carlos Bacca

Arsenal manager Arsene Wenger is reportedly eyeing summer moves for Leicester City's Riyad Mahrez, AC Milan striker Carlos Bacca and AS Monaco midfielder Thomas Lemar after agreeing a deal to remain in charge for another two years.

According to the Mirror (via the Telegraph), the trio are all on Arsenal's radar as Wenger looks to build a side that will fare better next season than they did in 2016-17.

While not officially announced yet by the club, it seems clear the Frenchman is set to pen a new two-year deal at the Emirates Stadium, per BBC Sport's David Ornstein:

Having finished outside the top four and missed out on a UEFA Champions League spot for the first time in 20 years, Arsenal could struggle to attract the biggest names in the summer, while they could also lose key star Alexis Sanchez before the start of next term, per Matt Hughes in The Times.

Winger Mahrez, 26, is set to be available for purchase after telling Leicester he wants to move on:

Per Neil Ashton in The Sun, the Foxes will demand at least £40 million for Mahrez, a hefty fee for a creative player who netted only six league goals and provided three assists in 2016-17.

However, if Wenger could revive the Algeria international's 2015-16 form—when Mahrez netted 17 goals and provided 11 assists as Leicester won the title, per WhoScored.com—he could be worth the money.

Meanwhile, Bacca would be an unexpected, but potentially astute, signing by Arsenal.

The Colombia international is 30 years old, but he is a natural goalscorer and would be an experienced addition to the Gunners squad.

Emilio Andreoli/Getty Images

He struggled somewhat for Milan in 2016-17, netting only 13 league goals, but he earned a reputation as a lethal forward during his two-season spell at Sevilla, where he scored 34 league goals in 71 appearances, per WhoScored.

Should Arsenal lose Sanchez this summer, they will need to replace his goals somehow, and two-time UEFA Europa League winner Bacca could be part of the solution.

Similarly, 21-year-old Lemar, who is able to play on either flank, could help soften the blow of Sanchez's potential departure.

He impressed in 2016-17 as Monaco won Ligue 1, returning nine goals and 10 assists in the French top flight, but the Frenchman is also reportedly a target for Tottenham Hotspur, Juventus and Atletico Madrid, all of whom can offer Champions League football next season, per L'Equipe (via Football Whispers' John Rooney on ESPN FC).