Arsenal could be left empty handed in the final days of the transfer window as they face losing out on two right-backs.
The Gunners are among several clubs eyeing Barcelona's Emerson Royal.
They have been tracking the player since he was at Real Betis but north London rivals Tottenham are also keen.
According to Mundo Deportivo a €30m deal is close that will see Emerson head to Arsenal's rivals.
However that would leave Barcelona needing to add reinforcements at right-back.
Hector Bellerin has long been linked with a return to the Nou Camp, the place where he first begun his career.
Tottenham could secure the signing of Barcelona's Emerson Royal ahead of Arsenal ( Image:
Getty Images)
The Spaniard has been at the Emirates for almost a decade making 239 appearances, however he is keen to seek pastures new.
Ronald Koeman is likely to seek a loan move for Bellerin, who has reportedly grown frustrated at Arsenal's unwillingness to let him leave.
Should the right-back secure an exit Arteta will have missed out on a target and also seen a player leave, weakening his resources.
He refused to rule out more activity before the window slammed shut at the weekend, saying: "I don't know what will happen still a few days to go, we had some exits planned, so we will see [what happens]."
Arteta has already come in for harsh criticism this summer having spent over £100m.
Many of Arsenal's signings have been added with a long-term view in mind and have been unable to prevent them losing their opening three games.
Former Gunner Bacary Sagna told RMC Sport: "How can you spend €150million and only bring in young players? It might be good for the future, but someone has got to think about the present.
"When I was playing, anyone would be excited to join Arsenal, now we have lost our DNA."
He went on to say: "Maybe we have players with character but they have won nothing. Today, you know how youngsters are, some older player tells them what to do.
"They say, 'well, what have you won?'. A player who has won titles barely has to speak to be listened to."
Arsenal could still see fringe trio Ainsley Maitland-Niles, Reiss Nelson and Eddie Nketiah all leave.
The latter is of interest to Crystal Palace but no fee has been agreed with the Eagles, who do want to add a striker.
Maitland-Niles and Nelson are more likely to leave on loan with the former stating his desire to play regularly on social media.