Arsenal are being offered the chance to sign Colombia defender Eder Balanta from FC Basel.
The Gunners have around £45million to spend this summer after missing out on qualification for the Champions League.
Balanta is an attractive option for boss Unai Emery.
He has just one year to run on his contract with the Swiss club and is available for around £4m.
Balanta, 26, can operate in central defence or at left-back.
However, Arsenal's defeat in the Europa League final will impact their transfer plans, with Emery given a budget of just £40m with more funds only provided through player sales.
Asked if the defeat will affect his targets, the Arsenal boss said: "Maybe, but I think we are a big team and I think Arsenal are a big name in the football world.
"A lot of players want to play here. I don’t know for the next year but the club is working and we will do our way."
Emery was pushed on whether there would be big changes to his squad after the abject defeat to Chelsea .
He added: "It is not the moment to speak about that. We need to analyse, speak to the players and the club.
"Our idea is to carry on with the same team and improve, and maybe some players need to leave to take a new way.
"We need the same idea and maybe add some new players to give us a situation to improve.
"I am proud of our work, I think the players did all they can in the possibility to reach our target."
