According to the Daily Mail's Sami Mokbel, the club are set to reduce spending after making some significant investments in the squad over the last two years.
Arsenal twice broke their transfer record in the space of six months when they signed Alexandre Lacazette last summer and then Pierre-Emerick Aubameyang in January. Mesut Ozil's new deal and the arrivals of Aubameyang and Henrikh Mkhitaryan have also contributed to a much larger wage bill at the Emirates Stadium.
The Gunners intend to replace Wenger, who will depart as manager at the end of the season after 22 years in charge, with a "strict disciplinarian" who can get the most out of the players he has to work with.
The likes of Rafael Benitez at Newcastle United and Sean Dyche at Burnley have worked wonders on limited budgets by focusing on developing the players they have available to them, so there's a lot to be said for that approach.
Even Manchester City boss Pep Guardiola, who has had plenty to spend at the Etihad Stadium, has not guided his team to the Premier League title just because of the size of their budget.
While there's no denying their resources give them a significant leg up over the competition, Guardiola has overseen an improvement in many of his players.
Former Chelsea winger Pat Nevin compared his management with that of Jose Mourinho, who has also invested a significant amount in the transfer market during his time at Manchester United, per BBC 5 live Sport:
According to Mokbel, former Barcelona boss Luis Enrique is the front-runner to take over from Wenger having made his interest in the job known, and Arsenal head of football relations Raul Sanllehi—who worked with the coach at the Camp Nou—is said to want him to take charge as well.
Football writer Philippe Auclair does not believe Enrique would be the right candidate for the job, though:
The Spaniard won a treble and a double as Barca boss, but under his tutelage the club seemed to move away from their philosophy of promoting from within and developing youngsters to take part in the first team, and turned to the transfer market more often as a solution to their problems.
Per Transfermarkt, Enrique spent over £300 million in his three years in charge at the Camp Nou on 15 senior players.
If Arsenal are committed to adhering to a strict budget and hiring someone who will do most of his work on the training ground rather than in the market, Enrique may not be the best choice.