No marquee signings akin to £105m Declan Rice are expected, but reinforcements are apparently being targeted in the attacking slots - both up front and out wide - a new defensive midfielder, a new left-back and possibly a new goalkeeper too.
Here, Sports Mole takes a closer look at every player to have been linked with a move to Arsenal this summer and rates their chances of joining Mikel Arteta's team.
Who could Arsenal sign this summer?
Alexander Isak
Current club: Newcastle United
Age: 24
Position: Centre-forward
Rumoured asking price: £100m
Transfer value: £59.7m
Career appearances: 271
Career goals: 112
Honours
DFB-Pokal (1): 2016-17
Copa del Rey (1): 2019-20
After ending their interest in Brentford's Ivan Toney, Arsenal are understood to have switched their focus to Newcastle United hotshot Alexander Isak, whom they were also tipped to sign during his Real Sociedad days.
However, the Magpies will drive an extremely hard bargain for Isak's sale - potentially asking for as much as £100m - which ought to see Arsenal leave the battle as quickly as they entered it.
Our verdict: Very unlikely
Benjamin Sesko
Current club: RB Leipzig
Age: 20
Position: Centre-forward
Rumoured asking price: £55m
Transfer value: £42.6m
Career appearances: 165
Career goals: 69
Honours
DFB Super Cup (1): 2023
Austrian Bundesliga (3): 2020-21, 2021-22, 2022-23
Austrian Cup (1): 2021-22
Now rumoured to be their prime attacking target, Benjamin Sesko is expected to be on the way out of RB Leipzig after just one season in Germany and could reportedly be available for around £55m due to a release clause in his contract.
Manchester United are also in the mix, but Arsenal can offer the Slovenia international Champions League football and are believed to be his preferred choice, so Gunners fans can probably get excited about the prospect of Sesko lining up at the Emirates next season.
Our verdict: Very likely
Victor Osimhen
Current club: Napoli
Age: 25
Position: Centre-forward
Rumoured asking price: £113m
Transfer value: £93.7m
Career appearances: 223
Career goals: 114
Honours
Serie A (1): 2022-23
Also set to be on the move in the summer transfer window, Napoli striker Victor Osimhen's exit has already been confirmed by the Partenopei's president, and he is alleged to be holding out for Arsenal to make an offer for his services.
Moves to Real Madrid or Saudi Arabia are off the cards, but Arsenal will certainly now bow to Napoli's £113m release clause, which is less than can be said for Paris Saint-Germain, who apparently want the Nigerian to lead them into the post-Kylian Mbappe era.
Our verdict: Unlikely
Joshua Zirkzee
Current club: Bologna
Age: 23
Position: Centre-forward
Rumoured asking price: £51.1m
Transfer value: £34.1m
Career appearances: 158
Career goals: 42
Honours
Bundesliga (1): 2019-20
DFB-Pokal (1): 2019-20
Champions League (1): 2019-20
DFB-Supercup (2): 2020, 2022
UEFA Super Cup (1): 2020
Fresh from leading Bologna to an unexpected place in the 2024-25 Champions League, Joshua Zirkzee - crowned the best young player in Serie A in 2023-24 - could be available for around £50m in the upcoming market.
However, Arsenal are facing intense competition from Manchester United and clubs in Italy - including Juventus and AC Milan - to sign the former Bayern Munich product, who will likely stay put in Serie A.
Our verdict: Unlikely
Viktor Gyokeres
Current club: Sporting Lisbon
Age: 25
Position: Striker
Rumoured asking price: £68.5m
Transfer value: £46.8m
Career appearances: 280
Career goals: 119
Honours
Primeira Liga (1): 2023-24
One of the hottest attacking properties on the continent right now, Viktor Gyokeres set the world alight for Sporting Lisbon last term and has reportedly caught the eye of Arsenal, Chelsea, Manchester United and PSG over the past few months.
However, the Sweden international has now undergone knee surgery and is set for a spell on the sidelines, which will almost certainly scupper his chances of signing for the Gunners.
Our verdict: Very unlikely
Marcus Rashford
Current club: Manchester United
Age: 26
Position: Left winger
Rumoured asking price: £70m
Transfer value: £51.1m
Career appearances: 402
Career goals: 131
Honours
FA Cup (2): 2015-16, 2023-24
Europa League (1): 2016-17
EFL Cup (2): 2016-17, 2022-23
Community Shield (1): 2016
After fleeting links with Manchester United's Marcus Rashford in 2022, Arsenal boss Mikel Arteta has allegedly spoken with the Englishman over a switch to the Emirates this summer, as offers of £70m could be accepted by the Red Devils following his 2023-24 struggles.
Man United will certainly be reluctant to let Rashford join a direct Premier League rival, though, and Arteta needs right-sided attackers more than he does left-wingers at this moment in time.
Our verdict: Very unlikely
Michael Olise
Current club: Crystal Palace
Age: 22
Position: Winger
Rumoured asking price: £60m
Transfer value: £46.8m
Career appearances: 163
Career goals: 23
Honours
None
Michael Olise memorably snubbed Chelsea in 2023 to sign a contract extension with Crystal Palace, but the Eagles tying him down to new terms was primarily financially-motivated, ensuring that they can garner the most money possible through an inevitable sale.
Arsenal are rumoured to be leading the intense chase thanks to the Champions League football on offer at the Emirates, but Olise should not accept coming second to Bukayo Saka in North London.
Our verdict: Unlikely
Desire Doue
Current club: Rennes
Age: 19
Position: Winger
Rumoured asking price: £34.1m
Transfer value: £25.6m
Career appearances: 76
Career goals: 8
Honours
None
The performances of 19-year-old Rennes attacker Desire Doue with Rennes have reportedly caught the eye of Arsenal, Man United and Bayer Leverkusen, all of whom could be quoted a modest £34m to sign the 2005-born winger in the coming weeks.
Game time may be a problem for Doue at the Emirates, but he should not arrive with the expectation of becoming a regular starter right away, and with patience, he could become a key figure for the Gunners in years to come.
Our verdict: Likely
Bruno Guimaraes
Current club: Newcastle United
Age: 26
Position: Midfielder
Rumoured asking price: £100m
Transfer value: £72.4m
Career appearances: 293
Career goals: 32
Honours
Copa do Brasil (1): 2019
Copa Sudamericana (1): 2018
Olympic gold medal (1): 2020
Amid the expectation that Bruno Guimaraes will leave Newcastle United this summer, Arsenal were alleged to have made the Brazilian their number one defensive midfield target, but there is a £100m release clause in his contract that can only be triggered before the end of June.
Once that window closes, Arsenal will be at Newcastle's negotiating power and have reportedly cooled their interest, although it could be revisited if the midfielder makes a concerted effort to leave St James' Park.
Our verdict: Unlikely
Martin Zubimendi
Current club: Real Sociedad
Age: 25
Position: Midfielder
Rumoured asking price: £51.2m
Transfer value: £42.6m
Career appearances: 237
Career goals: 12
Honours
UEFA Nations League (1): 2022-23
Copa del Rey (1): 2019-20
Martin Zubimendi would certainly be a cheaper alternative to Guimaraes and is thought to be aware of Arsenal's interest, but the Gunners have been dealt a hammer blow in their hopes of a £51.2m agreement.
Indeed, reports have claimed that the Real Sociedad man has no interest in joining Arteta's side, and he would only leave his current team if Real Madrid or fellow suitors Barcelona came calling.
Our verdict: Very unlikely
Youssouf Fofana
Current club: Monaco
Age: 25
Position: Midfielder
Rumoured asking price: £20m
Transfer value: £25.6m
Career appearances: 250
Career goals: 15
Honours
Coupe de la Ligue (1): 2018-19
An even more cut-price midfield option, Youssouf Fofana may be allowed to leave Monaco for a mere £20m in the summer transfer window, and the Frenchman has confirmed that an exit from the Ligue 1 club is a real possibility before the start of next term.
However, Fofana does not really fit the number six profile that Arsenal are looking for, and even though they may only have to pay relative pennies to sign him, it is difficult to see a move coming to fruition.
Our verdict: Unlikely
Douglas Luiz
Current club: Aston Villa
Age: 26
Position: Midfielder
Rumoured asking price: £100m
Transfer value: £59.6m
Career appearances: 290
Career goals: 27
Honours
Olympic gold medal (1): 2020
Arsenal fans were sent into a Douglas Luiz frenzy in the summer of 2022, going as far as to track the Brazilian's every move in the last knockings of the transfer window, but they were apparently rejected by the Lions twice and have not gone back in since.
Two years later, the Gunners are rumoured to be considering reigniting their interest, but they can expect to be repelled by Villa's nine-figure demands and should focus their search elsewhere.
Our verdict: Very unlikely
Ferdi Kadioglu
Current club: Fenerbahce
Age: 24
Position: Left-back
Rumoured asking price: £25.6m
Transfer value: £17.9m
Career appearances: 258
Career goals: 27
Honours
Turkish Cup (1): 2022-23
Ostensibly chosen as the man to reinforce Arteta's left-back ranks, Ferdi Kadioglu is already understood to have been the subject of one failed bid from Arsenal, but Fenerbahce's arm could be twisted by an offer of around £25m.
Reports have claimed that the 24-year-old has already given the green light to personal terms with Arsenal, who should have no qualms about shelling out a few million more to get their man.
Our verdict: Likely
Mikayil Faye
Current club: Barcelona
Age: 19
Position: Centre-back
Rumoured asking price: £17m
Transfer value: £4.
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