Arsenal are interested in signing Real Madrid midfielder Eduardo Camavinga on loan.
During the January transfer window, Arsenal signed Brighton winger Leandro Trossard and are close to signing Spezia center-back Jakub Kiwior.
As they seek their first Premier League title since 2004, the club’s owners are prepared to back manager Mikel Arteta in the transfer market.
It is uncertain whether Real Madrid will sanction a loan move for the 20-year-old, but he has battled for playing time this season.
Arsenal’s long-term goal is to strengthen their midfield, and they see a deal for West Ham captain Declan Rice as their top objective for the summer.
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The Hammers will not sell Rice in January and instead instead seek £100 million for him at the end of the season.
Arsenal is also interested in Leicester’s Youri Tielemans, who will become a free agent in the summer if he does not sign a new contract.
Arsenal have already signed winger Leandro Trossard from Brighton for £27 million, and Polish defender Jakub Kiwior is on his way from Spezia.
The Gunners hope to dramatically enhance their midfield in the summer, with West Ham star Declan Rice their major target.
Arsenal missed out on Mykhailo Mudryk, who instead joined Chelsea for £88 million from Shakhtar Donetsk.
Arteta’s team have enjoyed a superb season so far and are currently five points clear of Manchester City at the top of the Premier League with a game in hand on their closest challengers.