The Premier League giants will bolster their respective squads as they look to challenge all fronts in the 2023/24 campaign.
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Players will go on to leave clubs who face the drop come the summer, and both Man United and Arsenal could swoop.
Erik ten Hag's troops have been linked with several names, who could go down with their current clubs as have Mikel Arteta's bosses at Arsenal.
talkSPORT takes a look at 12 names who they could potentially sign…
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James Maddison, Leicester
A player who is certainly expected to leave the Foxes is midfielder Maddison.
The 26-year-old has won the FA Cup with his current club and been one of Leicester's key performers.
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A move to north London would not only bolster Arsenal's options in the attacking third, but boost Maddison's England chances.
Wilfried Gnonto, Leeds
Gnonto has certainly been one of Leeds' standout stars despite their lacklustre season.
Many of the Whites' opportunities have come when the Italian has been on the ball, and he has attracted interest from top clubs around Europe.
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Joining from FC Zurich last summer, the 19-year-old has just two goals and three assists to his name, but despite this, his qualities are certainly there to see.
Dominic Calvert-Lewin, Everton
Arsenal could bolster their forward line with a move for the 26-year-old, and he would come at a bargain price should Everton go down.
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He has featured just 13 times this season, having been blighted by injures, though, Arteta is said to remain a keen admirer.
Calvert-Lewin may have found the net just six times since the start of the 2021/22 campaign, but has demonstrated he can be a real goal threat when fit, while he is not someone easily bullied off the ball.
Borna Sosa, Stuttgart
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Not the most of familiar names on talkSPORT's list, but the Croatia left-back has been linked with a move to the Premier League.
The 24-year-old has impressed in the Bundesliga, despite being in and amongst Stuttgart's relegation-threatened campaign.
Having scored twice and recorded five assists, Sosa has been linked with Tottenham and Chelsea in the past.
Though Arsenal could have the advantage given he currently plays alongside ex-Gunners defender Konstantinos Mavropanos.
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Ivan Fresneda, Real Valladolid
Who? The 18-year-old right-back is currently taking LaLiga by storm and is target for Europe's top clubs.
Having made 18 appearances for his side this campaign, Arsenal and Borussia Dortmund are running the rule over the teenager.
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The former Real Madrid youngster recently revealed he is is a big fan of what Arteta is doing, while suggesting he will be on the move shortly.
"Being the age I am, you have to keep improving and I'm doing that at Valladolid. Everyone would like to go to the best teams in the world and that is one of my ambitions, of course."
Carlos Alcaraz, Southampton
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The 20-year-old was previously a target for Arsenal, Tottenham and Inter, before signing for Southampton in January.
Alcaraz netted against the Gunners, in his side's 3-3 draw against Arsenal, which ultimately put a dent in their title charge.
A former star at Argentina side Boca Juniors, the midfielder could certainly be on the move yet against should the Saint go down.
Yunus Musah, Valencia
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Could the former Arsenal youngster head back to the Emirates this summer?
The 20-year-old USA international left the Gunners at the age of 16, and continues to impress at the heart of the Valencia midfield.
Musah also impressed at the World Cup in Qatar with his national team where Arsenal chief Edu ran the rule over him.
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Despite this, he does have an £86million release clause in his contract, so it remains to be scene a move happens.
Andre Onana, Everton
There have not been many plus points for Everton this season, but Onana is certainly one of them.
The Toffees remain deep-rooted near bottom of the table, destined for relegation as things stand, with tough games on the horizon.
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Onana arrived at Goodison Park last summer from Lille in a deal worth £33m.
The 21-year-old midfielder has showed his quality in 27 appearances for the club, scoring one goal for the strugglers.
Should Everton suffer relegation, he will certainly no doubt be on the move.
Brennan Johnson, Nottingham Forest
Johnson has emerged as one of Forest's bright sparks this season, since making the step up from the Championship.
The 21-year-old netted 19 goals and claimed 10 assists as the Reds won promotion to the Premier League last season.
Whilst he has not reached those heights this campaign, his ability is there to see.
Johnson has been linked with a move to Man United in the past, and he could certainly be an option for Ten Hag in the summer.
Jordan Pickford, Everton
The 29-year-old England No.1 is odds on to leave the Toffees should they suffer relegation.
Pickford penned a new four-and-a-half-year deal at Goodison Park earlier this year, but a move should not be ruled out at the end of the campaign.
Chelsea, Tottenham and Man United have all been linked with him, and he may opt for a move away from Merseyside.
Romeo Lavia, Southampton
Man United along with several other suitors have been eyeing up Southampton sensation Lavia.
The 19-year-old joined the St.Mary's side from Manchester City for £10m plus add-ons and has been a standout performer for the south coast club.
The Saints look set for the drop, suggesting Lavia will be on the move.
Pep Guardiola's side have an option to buy the teenager back for £40m, but that clause does not become active until 2024 which could force any interested parties to act swiftly this summer.
James-Ward Prowse, Southampton
One of the most senior stars who make the list is the Southampton captain.
The 28-year-old has recently been linked with Man United, and with Ten Hag looking for midfielders this summer, he could well enter the equation.
Ward-Prowse, who has drawn comparisons to club legend David Beckham in the past, last signed a contract in 2021, taking his St. Mary's deal up until 2026.