The Gunners were dealt a serious blow midway through the season when previous sporting director Edu resigned from his role in November, leaving after more than five years at the Emirates.
Edu was credited with helping build the squad that has seen Mikel Arteta take the Londoners from mid-table obscurity to regular title challenges, and his departure has coincided with discontent amongst supporters regarding the club's transfer approach in the January window.
Bar a late bid for Aston Villa striker Ollie Watkins, Arsenal never looked like adding to their ranks, and their failure to reinforce has arguably allowed first-placed Liverpool to build a 15-point lead unchallenged.
However, Fichajes claim that new sporting director Berta wants to make a statement signing and bring Cunha to London to help Arteta finally clinch a Premier League title.
Cunha's season assessed
Wolve are currently in 17th place with just 23 points, but despite their struggles this campaign, Cunha has stood out as one of the division's finest attackers.
The Brazilian has scored 13 goals and provided four assists for his side in the top flight, contributing to roughly 45% of his team's total goals.
Cunha is not a traditional striker and instead prefers to operate either out wide on the left or in an attacking midfield role, and he would not suit playing up front as Arsenal's number nine.
However, the 25-year-old is adept at operating between opposition defensive lines, and he may be able to help solve some of the Gunners' problems in the final third.
Are there red flags?
Though Cunha is currently enjoying an exceptional season for Wolves, there are question marks about the attacker's temperament considering he has twice been banned from the pitch, once for a red card offence and the other for a confrontation with a security guard.
It should also be noted that the Brazilian has scored 13 times in the league from less than seven xG, which might suggest that his current form in front of goal is not sustainable.
The Londoners have only produced the ninth most xG in the top flight (43.8) - worse than sides such as Brentford and Crystal Palace - so perhaps Cunha would benefit most if Arsenal also signed a player more focused on creativity.
Cunha would add depth the Gunners' forward line, but whether he could displace either Martin Odegaard in midfield or Gabriel Martinelli on the left flank, remains to be seen.
Written by
Lewis Nolan